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Now we have the CEO of FedEx warning us that we are entering a "world-wide recession". Dow drops 300 points at opening bell. FedEx stock plummets 22% as of this writing.
I know the delivery trucks are coming onto my street less frequently than even just a few months ago...
OK.
Quote:
We already are in a recession, as the previous two quarters have had negative GDP growth.
Yes, the textbook definition.
Edit in: FordBronco, with do respect the GDP declined in the first and second quarter but was not negative.
For the textbook definition.....it's 2 consecutive quarters of negative growth (below 0).
Quote:
Real GDP decreased less in the second quarter than in the first quarter, decreasing 0.6 percent after decreasing 1.6 percent. The smaller decrease reflected an upturn in exports and a smaller decrease in federal government spending that were partly offset by a larger decline in private inventory investment, a slowdown in consumer spending, and downturns in nonresidential fixed investment and residential fixed investment. Imports decelerated.
Once you factor in all the Brandonflation, it paints an even uglier picture. It may be down 12% in raw dollars, but those dollars today buy perhaps 15% or 20% less. The inflation has been just as devastating as the moves in the stock market, if not worse.
Yep. Getting hit on both sides. Life for nearly everyone is demonstrably worse than it was in 2019.
I wish I could get this message through to Democrat voters: Vote based on POLICY, not personality.
The Pubs running in the midterms need to make this a referendum on Democratic leadership. How have things been over the last 18 months? It will get through to some people.
A CEO making predictions.....I assume he's got access to lots of data.....
As for the US in particular.....corporate recruiters for the largest companies that we know of are laying off many, many, many recruiters.....
Recruiters are usually the first to go.....this may be a sign.
I would not be surprised if there is a US recession and worldwide recession for many reasons.
Fed Ex ships world-wide to every nation on earth. If anybody has a pulse on the economies around the world, I would think the Fed Ex officers would be among them.
But I will add, the "textbook" definition is not followed as much these days.
Here is a more thorough definition, IMO:
Quote:
The National Bureau of Economic Research (NBER) Business Cycle Dating Committee—the official recession scorekeeper—defines a recession as “a significant decline in economic activity that is spread across the economy and that lasts more than a few months.”
it was/is 1st Negative 1.6 and second a negative .6
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