Mark this day as the start of a recession. Let’s hope it’s only a year. Powell is trying
to crush demand so that manufacturing and supply change issues will catch up to demand. Kiss full employment, housing, hotels, cars, and retail goodbye. Buy oil and cyclical goods like food, P&G, Clorox, etc as the risers over the next year.
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Replies to: Mark this day as the start of a recession. Let’s hope it’s only a year. Powell is trying
Thread Level: 2
To paraphrse Obama... the 70's are calling and they want Jimmy Carter's economy back.
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Thread Level: 2
We have to lose at least 2-3 mil jobs in order to tame this monster inflation. The debate is over:
We shouldn't use Fed to fight unemployment from beginning. The function of Fed is to control inflation/deflation, not employment.
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Thread Level: 3
At least people won't have to pack up their items and go home...
So, there's that...
Thread Level: 4
Still a huge impact. We created false sense of becoming rich/middle class for many. It's a bubble.
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Thread Level: 2
staples can't keep up with inflation, and consumers are trading down to private labels and smaller
items. The market won't have many winners for awhile.
Thread Level: 3
This is a systemic inflation, not just limited to oil, foods, some individual items.
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