FILE PHOTO: A Bank of America sign stands on the side of a building in New York
Reuters: A "recession shock" is coming, BofA warns
LONDON (Reuters) - The macro-economic picture is deteriorating fast and could push the U.S. economy into recession as the Federal Reserve tightens its monetary policy to tame surging inflation, BofA strategists warned in a weekly research note.
"'Inflation shock' worsening, 'rates shock' just beginning, 'recession shock' coming", BofA chief investment strategist Michael Hartnett wrote in a note to clients, adding that in this context, cash, volatility, commodities and crypto currencies could outperform bonds and stocks.
The Federal Reserve on Wednesday signaled it will likely start culling assets from its $9 trillion balance sheet at its meeting in early May and will do so at nearly twice the pace it did in its previous "quantitative tightening" exercise as it confronts inflation running at a four-decade high.
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WNU Editor: Inflation always devastates the productive and vulnerable segments of society. If you take into account GDP numbers and the real inflation numbers (link here from Shadowstats), I would say the U.S. is already in a recession.
5 comments:
You can only print so much money before it becomes worthless. quantitative easing will bite us in the butt.
This ones the big one
^^^^^^^
12:26
+1,000,000,000,000,000
But Dims are just trying to get through the next 24 hours, so the presses are still smoking hot.
Washington CNN —
Two days after the 2020 presidential election, as votes were still being tallied, Donald Trump’s eldest son texted then-White House chief of staff Mark Meadows that “we have operational control” to ensure his father would get a second term, with Republican majorities in the US Senate and swing state legislatures, CNN has learned.
In the text, which has not been previously reported, Donald Trump Jr. lays out ideas for keeping his father in power by subverting the Electoral College process, according to the message reviewed by CNN. The text is among records obtained by the House select committee investigating January 6, 2021.
“It’s very simple,” Trump Jr. texted to Meadows on November 5, adding later in the same missive: “We have multiple paths We control them all.”
Ruby Freeman helped steal the election. It is on video tape. If the government is not willing to prosecute that low hanging fruit, they won't prosecute the other stuff either.
Fred Lapides has no answer to that except maybe another copy and paste from yet another extreme leftwing publication.
At least he has not published list of why socialist programs are grand and listed them.
Remember when he listed the GI Bill and how he went "La la la la la la la" , when told that it was a Republican that drafted the bill and sponsored it?
Research is more than regurgitating like a penguin what the New York Times and Washington Post prints today.
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