Totally agree.
I talked about the 3 signs of a coming earnings recession here:t.co/PM3J75GJk4
— Mosaic Asset (@MosaicAssetCo) December 21, 2022
Recession probability model from @NewYorkFed has climbed beyond its 2020 peak (by narrow margin) and is now at its highest since GFC pic.twitter.com/rHcl3dO19A
— Liz Ann Sonders (@LizAnnSonders) December 21, 2022
Housing market is collapsing. Year-over-year, sales fell by 35%, the 16th month in a row of year-over-year declines. Compared to the recent free-money peak in October 2020, sales were down 39%
Economists Place 70% Chance for US Recession in 2023
The probability of a downturn in 2023 climbed from 65% odds in November and is more than double what it was six months ago, according to the latest Bloomberg monthly survey of economists. The poll was conducted Dec. 12-16, with 38 economists responding about the chance of a recession.
The median estimates see gross domestic product averaging a paltry 0.3% next year, including an annualized 0.7% decline in the second quarter and flat readings in the first and third quarters. Consumer spending, which accounts for about two-thirds of GDP, is projected to barely grow in the middle half of the year.
Mike Wilson, Morgan Stanley, compares 2022 to 2008. pic.twitter.com/xtwdWZG3xR
— RationalInvestor (@Orangeman1992) December 19, 2022
This year’s bear market hasn’t even erased the gains from 2021. If stocks are worth more now than they were when rates were zero, a stimmy-fuelled economy ruled and corporate profits had strong growth ahead, what does that imply? 🤔 pic.twitter.com/zZFxajA9lA
— Wasteland Capital (@ecommerceshares) December 21, 2022
Home sales tumbled more than 7% in November, the 10th straight month of declines