Global Recession?
- Thread starter eyephone
- Start date
woodburyowner
Well-known member
This goes to show you that timing the market is near impossible. Luckily I went through this phase early on in life and have done the DCA "set it and forget it" investing method over the last decade+.
Liar Loan
Well-known member
The S&P 500 is showing a series of lower highs and lower lows. The overall trend is still downward, but there have been multiple bear market bounces along the way.
morekaos
Well-known member
Some fat fingered trader punched in too many 0’s at the Bureau of Labor Statistics and “misinformed” the public that we are not in a recession. A revision from 1 million jobs to just 10,000 seems a bit odd don’t you think? That, coupled with 2 consecutive negative GDP’s tell a very different story from Brandon’s version of growth…
Biden second-quarter job numbers off by 1 million, Philadelphia Federal Reserve Bank says
The Biden administration vastly overstated its estimate that employers created more than 1 million jobs in the second quarter of this year, claiming historic job growth when in fact hiring had stalled, according to a new estimate.
Job growth was “essentially flat” in the second quarter with only 10,500 jobs added, the Federal Reserve Bank of Philadelphia said.
Republicans are accusing the administration of lying about the employment data in an election year and are demanding answers.
The BLS, a division of the Department of Labor, estimated net job growth of 1,047,000 jobs in the second quarter. The Philadelphia Fed now says its data shows that 10,500 net jobs were created in that period.
“Wrong by a million jobs,” Mr. Scott tweeted Friday. “@JoeBiden’s admin has been lying to the American people about our economy to prop up his failed agenda & I won’t stand for it. I’m requesting an immediate meeting with the head of @BLS_gov. WE NEED ANSWERS NOW!”
President Biden had boasted about the second-quarter job numbers in the heat of the midterm election campaign, using the BLS report as proof that the nation wasn’t headed for a recession.
“In the second quarter of this year, we created more jobs than in any quarter under any of my predecessors in the nearly 40 years before the pandemic,” Mr. Biden said on July 8.
Looking at specific states in its region, the Philadelphia Fed said job growth in Pennsylvania for the second quarter was “essentially flat,” while the BLS had reported job growth of 2.9%.
In New Jersey, payroll jobs fell 1.2% in the second quarter, instead of the 3.4% growth reported by the BLS.
In the president’s home state of Delaware, payroll jobs fell by 4.1%, rather than the 4.5% growth reported by the BLS.
https://www.washingtontimes.com/news/2022/dec/16/biden-administrations-claim-1-million-jobs-added-s/
Biden second-quarter job numbers off by 1 million, Philadelphia Federal Reserve Bank says
The Biden administration vastly overstated its estimate that employers created more than 1 million jobs in the second quarter of this year, claiming historic job growth when in fact hiring had stalled, according to a new estimate.
Job growth was “essentially flat” in the second quarter with only 10,500 jobs added, the Federal Reserve Bank of Philadelphia said.
Republicans are accusing the administration of lying about the employment data in an election year and are demanding answers.
The BLS, a division of the Department of Labor, estimated net job growth of 1,047,000 jobs in the second quarter. The Philadelphia Fed now says its data shows that 10,500 net jobs were created in that period.
“Wrong by a million jobs,” Mr. Scott tweeted Friday. “@JoeBiden’s admin has been lying to the American people about our economy to prop up his failed agenda & I won’t stand for it. I’m requesting an immediate meeting with the head of @BLS_gov. WE NEED ANSWERS NOW!”
President Biden had boasted about the second-quarter job numbers in the heat of the midterm election campaign, using the BLS report as proof that the nation wasn’t headed for a recession.
“In the second quarter of this year, we created more jobs than in any quarter under any of my predecessors in the nearly 40 years before the pandemic,” Mr. Biden said on July 8.
Looking at specific states in its region, the Philadelphia Fed said job growth in Pennsylvania for the second quarter was “essentially flat,” while the BLS had reported job growth of 2.9%.
In New Jersey, payroll jobs fell 1.2% in the second quarter, instead of the 3.4% growth reported by the BLS.
In the president’s home state of Delaware, payroll jobs fell by 4.1%, rather than the 4.5% growth reported by the BLS.
https://www.washingtontimes.com/news/2022/dec/16/biden-administrations-claim-1-million-jobs-added-s/
Last edited:
Liar Loan
Well-known member
Does this portend a soft landing and mild recession?
Treasury Yield-Curve Inversion Reaches Deepest Level Since 1980s
Cases of shorter-term rates trading higher than longer-term ones are called curve inversions. They typically arise when central banks are in the process of raising policy rates, a maneuver that pushes up the short-term yields while weighing on longer-term yields by damping expectations for inflation and growth. In the US, they have a track record of preceding economic downturns by 12 to 18 months.
Last edited: