...if you believe in anecdotal data, jobless rate would only worsen from here
...pessimism (like optimism) tends to take a life of its own
...right now Main St is pessimistic while Wall St is optimistic (71% of market participants as surveyed by Investopedia are optimistic/cautiously optimistic on the market with only 19% expecting a correction) - in market history such disconnect never ended well (for the markets).
...you must understand why Wall St needs to keep the faith, the alternative would be a brutal disaster. The veterans there can tell you. So as the market keeps going higher while the economy continues to deteriorate, they (Wall Streeters) will have keep the cheer squad going, trying hard not to blink.
THIS HAS NEVER HAPPENED OUTSIDE OF US RECESSIONS
Americans' perception of the labor market fell to the worst level since the COVID CRISIS.
The difference between consumers saying jobs are 'plentiful' and 'hard to get' is 12.6%, the level implying the jobless rate to hit ~6%
https://x.com/GlobalMktObserv/status/1838949076848566411
...if you believe in anecdotal data, jobless rate would only...
-
- There are more pages in this discussion • 20 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)