Investors believe the economy is likely coming in for a hard landing. Wall Street thinks the Feds might be waiting too long to lower interest rates.
The Dow closed 500 points lower on recession fears. According to CNBC, Initial jobless claims rose the most since August 2023. The ISM manufacturing index, a barometer of factory activity in the U.S., came in at 46.8%, worse than expected and a signal of economic contraction. After these releases, the 10-year Treasury yield dropped below 4% for the first time since February.
The Dow went down a day after central bank policymakers chose to keep rates at the highest levels in two decades, when Fed Chair Jerome Powell gave investors some hope by signaling a September rate cut is on the table.
Wild spending, debt economy, destroying our energy sector, escalating wars, the Feds printing money, nations dropping the dollar: why would any of that be a problem?
-
Christian Gold Company Defies Industry’s Retirement Fearmongering Through Prayer and Biblical Hope
95.5% chance of a rate cut in September.
In other words, 95.5% chance they see a recession coming. pic.twitter.com/koyAEQeOjn
— Peter St Onge, Ph.D. (@profstonge) July 31, 2024
Increased wages can’t keep up with Biden-Harris inflation.
Q2 labor productivity report shows inflation wiped out annual gains in workers’ hourly compensation, driving the real increase down to 0.0% from same time last year – folks are more productive and thus earning more, but gov’t is taking 100% of those gains via inflation: pic.twitter.com/qiGNLch2G7
— E.J. Antoni, Ph.D. (@RealEJAntoni) August 1, 2024
More reinforcement:
The PMI results out now are bad across the board. Weak in absolute terms, and also below consensus expectations.
Reinforces the economic softening narrative. pic.twitter.com/nREBGxxLC3
— Lyn Alden (@LynAldenContact) August 1, 2024
We borrowed $62 billion yesterday.
Federal debt leaps to $35.1 trillion as Treasury borrows $62 billion yesterday – in one day… pic.twitter.com/xYk90PadVz
— E.J. Antoni, Ph.D. (@RealEJAntoni) August 1, 2024
HARRISNOMICS
Harris is here to make it worse. She is clueless. She sets the economic fires and pretends her policies are putting out the fire. Annual inflation went from 1.4% in January 2021 to over 9% in June 2022, and prices went up as much.
The overspending she promoted helped cause this. That caused the need to borrow exorbitant amounts of money. Taxpayers are now shelling out an annualized $1.6 trillion just to finance this burgeoning debt.
The media will probably make all her economic policies disappear. By November, she will sound like a fiscal conservative.
“Harris is an arsonist playing firefighter, simultaneously pushing more government spending and taxes on the middle class while claiming [others] are to blame for her failures… remember who set the inflationary fire that burned [your] finances to ash…”
Article linked in reply pic.twitter.com/3wVAsgftKD— E.J. Antoni, Ph.D. (@RealEJAntoni) August 1, 2024
wpDiscuz
