“‘… fall. Let’s stop with the acedemic debates about whether or not we’re in a recession. We are in a very deep recession for working class Americans. …’” https://t.co/GpZzH9NxBf— Lenny Dykstra (@LennyDykstra) November 25, 2022
Americans don’t have much money left over for gifts or even Thanksgiving feasts since inflation is at 40-year highs.
The typical turkey supper this year cost roughly 20% more than it did last year, according to TGP’s analysis from yesterday.
Earlier last week, Stever Cortes spoke on Bannon’s War Room and discussed the state of the Biden economy.
My argument is that the used automobile industry is in a complete free collapse, Cortes said. Let’s put an end to the heated discussions regarding whether or not we are experiencing a recession. For Americans in the working class, the recession is quite severe. The truth is that if we don’t start acting now, the current recession might turn into a depression.
In August, Democrats wasted another $700 billion on a spending measure for green energy that they dubbed the “Inflation Reduction Act.”
Principal of RiskReversal Advisors Dan Nathan told CNBC We’re going to retest those market lows that we experienced in June over the coming several months, I’ll repeat this throughout the market selloff. On a day like today, there is no need to purchase any of these stocks.
The S&P 500 ended more than 7% above its closing low from June 16.
Investors were concerned about increasing mortgage rates since the housing sector was already in a slump and because inflation statistics came in higher than anticipated. That dashed hopes of a more gradual increase in interest rates by the Federal Reserve. quoted Michelle Fox
In response to the news, US markets are down 850 points.
This is what Joe Biden termed “progress.”