ED This week, expect Powell to focus on (negative) labor market momentum to justify a Sept cut.
The percentage of industries growing jobs (YOY) has fallen below 65%.
Average recession begins w/ this number just above 60%.
https://x.com/WarrenPies/status/1818034325054689730
...if you now see this, why would you want to own stocks and especially stocks that can experience sharp selloffs when recession hits- anything consumer related, building & construction, commodities/resources, BS tech stocks, banks.
....the only time jobs has turned down so sharply without a recession was in the 80s.
....we're in a much different world than the one in the 80s.
ED This week, expect Powell to focus on (negative) labor market...
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