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#13111 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $1481110
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There are TWO HUGE differences at this time that will create a soft landing for 85-90% of the US.
1. The US consumer still has a shit load of money 2. The US consumer is NOT over-leveraged like in the past so banks are in great shape To me, the big wild card is if housing prices plunge then homeowners could be deep underwater and start walking away from their houses. I don't think it will happen but home prices need a 25-30% haircut.
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"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ ![]() "The men who drafted Patrick Mahomes" ![]() |
Posts: 51,585
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#13112 | |
Starter
Join Date: Nov 2004
Location: asdf
Casino cash: $3737963
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Posts: 509
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#13113 | |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $1481110
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Quote:
If not for Joe Manchin, we would be at 15-20% inflation based on the stupid idea to hand out MORE than the $5 trillion they did. It was an incredibly foolish decision at the same time the Fed was helping to feed liquidity. Yes, it jacked up inflation GREATER but it was far from the only factor.
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"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ ![]() "The men who drafted Patrick Mahomes" ![]() |
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Posts: 51,585
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#13114 |
Fish are scared of me
Join Date: Nov 2001
Casino cash: $440477
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We're only down 21% through the end of May but Jesus Christ it feels like 155%
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Posts: 40,721
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#13115 | |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $1481110
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Quote:
Many others also down > 50% ![]()
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"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ ![]() "The men who drafted Patrick Mahomes" ![]() |
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Posts: 51,585
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#13116 | |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $1481110
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Quote:
1. Attack on the oil industry from the first day of the new admin 2. Shutting down the economy during COVID across the globe 3. COVID's effect on the stopping and disruption of supply chain 4. COVID massive stimulus 5. Housing market short on inventory for last 4-5 years 6. The Fed's late reaction to "real" not "transitory" inflation 7. The Reopening across the globe from COVID 8. Massive labor shortage from COVID 9. The war in Ukraine Once COVID ended and everyone was so flush with cash, the demand went through the roof and it has been a perfect storm. I believe that part of our economy is already in a recession: -Bottom 20% of income earners: In recession once COVID stimulus checks ended -Next 20% of income earners: Sliding into recession and watching their savings and income being eroded from gas, food and other items -Middle 20% of income earners: On the cusp but still in good shape with jobs, extra cash and enough cushion -Next to top 20% of income earners: Just a little cautious on frivolous or extra spending but not in recession -Top 20% of income earners- not even close and will not be in a recession unless it is deep, prolonged and runs across all businesses with a lot of unemployment.
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"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ ![]() "The men who drafted Patrick Mahomes" ![]() Last edited by scho63; 06-23-2022 at 09:14 AM.. |
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Posts: 51,585
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#13117 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $631900
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Posts: 46,016
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#13118 | |
In Search of a Life
Join Date: Aug 2005
Casino cash: $7327995
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Quote:
Canadian banks are nearing 52-week lows. I rode them from the gutter to the penthouse and sold for a nice profit. Looks like it is time to buy again. |
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Posts: 43,200
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#13119 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $631900
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Did we just see a dead cat bounce recently?!?!!
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Posts: 46,016
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#13120 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $1481110
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Bed Bath and Beyond may soon be having a going out of business sale.
From $70 - $5 in about a year. Ouch!
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"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ ![]() "The men who drafted Patrick Mahomes" ![]() |
Posts: 51,585
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#13121 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $1481110
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Every damn rally attempt today so far has been met with selling.
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"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ ![]() "The men who drafted Patrick Mahomes" ![]() |
Posts: 51,585
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#13122 | ||
TACO SALAD
Join Date: Apr 2008
Location: yes
Casino cash: $508468
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Posts: 6,054
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#13123 |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
Casino cash: $2028491
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The S&P 500 was down 21 percent for the first half of the year, but so far in the second half it's on pace for a 278 percent increase.
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Active fan of the greatest team in NFL history. |
Posts: 142,327
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#13124 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $631900
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When NVDA decides to bottom and shows a reversal, I am backing up the money truck to that one.
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Posts: 46,016
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#13125 | |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $1481110
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Quote:
Could it hit $100? ![]() That would be a steal
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"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ ![]() "The men who drafted Patrick Mahomes" ![]() |
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Posts: 51,585
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