Most advertised Recession in History Might be Forming
Posted: Tue Sep 10, 2024 12:29 pm
Apparently, the Fed was slow to react to rate reductions. Europeans started in the Spring through June, 2024. Markets are spooked now and we are getting flogged in the oil sector. This was posted in X by Charles Gasparenio:
The Kobeissi Letter
@KobeissiLetter
Current situation:
1. Stocks can barely hold a daily gain with just 1 green day this month
2. Oil prices are crashing like demand is disappearing
3. Bond prices are rising like we are entering a recession
4. Gold prices are rising like more volatility is coming
5. Mortgage demand is at 30+ year lows like prices are crashing
6. Crypto is nearing a bear market like risk appetite is gone
This is the result of $4 trillion in stimulus and "free" money.
This last point is is critical. The so-called Inflation Reduction Act below good money after bad with more going to the Green Unicorn Strategy. Lowest IQ around now understands that Wind and Solar will not support a modern economy. Nuclear and Natural Gas will do the trick, but the climate loons have not gotten the memo.
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The Kobeissi Letter
@KobeissiLetter
Current situation:
1. Stocks can barely hold a daily gain with just 1 green day this month
2. Oil prices are crashing like demand is disappearing
3. Bond prices are rising like we are entering a recession
4. Gold prices are rising like more volatility is coming
5. Mortgage demand is at 30+ year lows like prices are crashing
6. Crypto is nearing a bear market like risk appetite is gone
This is the result of $4 trillion in stimulus and "free" money.
This last point is is critical. The so-called Inflation Reduction Act below good money after bad with more going to the Green Unicorn Strategy. Lowest IQ around now understands that Wind and Solar will not support a modern economy. Nuclear and Natural Gas will do the trick, but the climate loons have not gotten the memo.