Fed Chair Powell Says Economic Pain Coming

This... hilarious, and very sad at the same time.

 

Let's check in on this prediction: it is now March 2024 and DJIA is at 38,631 and S&P is at 5,093. I hope, for your sake, that you didn't act on your predictions.

 

All these threads from back then of fainting goats are hilarious. This included. Seems like you pulled your hair out for nothing. If you would have bet on Biden and invested $100,000 in the S&P when you posted on page 3 you'd have $142,086. Sorry you missed out on $42k. Probably would have helped out with your egg prices.

 

Miss Cleo?

 

I mean, most economists have been predicting a recession their entire careers. Its kind of their thing. So no need to feel bad.

 

Bye Felicia!

 

People who post stuff like that don’t own stocks. They don’t understand markets. He didn’t have anything to act on.

 

Checks note S&P 500 on Aug 22 - 4057. Today 5104. I’ll let you try to figure out the % move with a calculator by yourself.

I’m not optimistic.

 

We did!

This thread is GOLD!

 

If you want to think all is rosy, then please do. A fool and his money are soon parted.

 

And Trump is busy parting you and your ilk from your money.

Hmm….

 

Hilarious. The same people that think Trump "built" the greatest economy in US history now think the economy is worse, when by most statistical measures it is clearly better.

Whatever that spray tanned guy with the makeup and hair-piece says is the truth, I guess.

 

Interesting. So when is the stagflation that you were convinced was coming in August 2022 starting? It has been 18 months, and it hasn't yet. How long are we waiting?

Generally, I find the biggest fool's play is to bet that one can outsmart the market in predicting the future.

 

He’s busy breaking out the magic 8 ball…

 

Quiz in the economy under Trump and Biden, but you may need an NYT subscription. I did not do well …

Which President Can Claim These Economic Wins?

 

A fool had his money sitting on the sidelines during a great market run-up. If you put $100 under the mattress in Aug2022, it isn't worth $100 today.
As a retired person, my portfolio is slightly less aggressive compared to when I was working and I still did phenomenal over the last year and a half.

 

I actually agree with you. Most of us with financial and economic backgrounds knew to pour money into assets that increase with inflation such as equities and/or real estate. Our family is fortunate enough to have an income well above our expenses and have benefitted tremendously. The little guy, the renter, the families that don’t have that additional income have indeed been hammered and felt the pain that you are so flippant about with your jab on eggs. City gonna city.

 

Funny how those who are starting a victory parade over inflation were the same ones saying in 2021 and early 2022 that the massive government spending wouldn’t cause it and then when it PREDICTABLY did happen they made up terms like transitory to blow it off. Well here we are about to start the 2nd quarter of 2023, the rate is still about 50% over target and those rate cuts keep slipping out(remember they were supposed to start this month).

Am I glad that there has been no recession yet? Absolutely. Do I hope that Powell is able to pull off a long term soft landing? Absolutely. But don’t make yourselves look foolish in lying to people that just because there hasn't been a recession that there hasn’t been pain. But then again, it is election season so asking people to not lie is like asking FSU fans to be rational.