Joe’s economy still healthy: GDP expands +2.9%

No landing depends on where you sit in this economy

 

Meantime, the downside of the current economic world.

High-income earners move back into their childhood bedrooms, use candles instead of lamps to make ends meet

 

The events of the last week are why I was betting we would see another market downturn, and today briefly the S&P gave up all of its gains for the year.
Not that I could have guessed there would be a bank run, but because anytime you raise rates that fast someone or something important gets caught out. Historically it never ends well. We will see if it lasts though, we could still close the year well if the fed finds a middle ground with all the commotion.

 

Yeah… finally hearing some serious talk of the fed pausing for a month… I kept hearing “keep raising until something breaks”… looks like the fed broke some banks….

 

So inflation at 9% (or whatever number over 5% ) and interest rates at 1% is not moronic?