You don't despise the media enough.
They've been gaslighting us on the economy for years now, making us think that Bidenomics was so great as we struggle to buy gas and groceries.
Yesterday's stock market crash was bad; the July jobs report was abysmal, and the jobs numbers for May and June were revised down, and unemployment shot up to 4.3%.
But here's Axios -- having learned nothing from lying about Kamala as the border czar -- saying the bad stock market doesn't mean recession is here:
Recession is here.
They'll revise this story in three years for sure.
U.S. economic outlook has dimmed some. But the sharp stock selloff of recent days appears to have its roots in more obscure forces — and does not, in and of itself, mean a recession is looming.
Why it matters: After Monday's 3% drop, the S&P 500 is down 9% since reaching an all-time high just three weeks ago today.
Zoom in: The adjustment looks to be driven significantly by technical factors, including trades on the Japanese yen, big-company tech stocks, and low volatility reaching the end of their runs.
- None of that means the economy is in the clear. Indeed, the alarm bells sounded by the latest round of data are loud. But with Federal Reserve rate cuts incoming, there is still room to envision the economy skirting a downturn.
- The action on Wall Street, by contrast, looks like the kind of earthquake that rips through the financial markets semi-regularly as once-popular trades start to falter and traders are forced to pivot en masse.
What a load of BS.
They do.
Exactly.
Things like homelessness and the stock market, and inflation will be banner headlines under a GOP administration.
Yep.
That's all they are.
We remember, too.
Absolutely fine.
Message received.
Just peachy.