@Tfmonkey what's that old saying, never let a good crisis go UN-profitied
@VooDooMedic It's not a crisis. The 2nd quarter closed and we're officially in a recession, but those reports are backwards-looking so we've BEEN in a recession for months.
We've also been in the middle of an energy crisis for months, so in what world does "OMG RECESSION" mean oil is going to crash when all that's changes is that the calendar moved from June to July?
@Tfmonkey how much more pain do you think they should be able to take... If you had to guess do you think that we will make it to next year ?
@VooDooMedic They're operating under two false narratives.
1. inflation is transitory and will go away on its own of through tiny rate hikes of fractions of a percent.
2. The recession is a repeat of 2008, and the FED is going to "pivot" and lower rates/stimulate the economy once inflation is "tamed" by said fractional rate hikes.
@VooDooMedic No, it's worse than that, it's just normies going into cash because the quarter is closed so we're "officially" in a recession now.
They're going to sit in cash until the FED goes back to printing money I guess.