Man, cramer couldnt smell a recession if it sat on his face and wiggled.
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Quoted from WeirPinball:I think the fed balance sheet is the wild card here, we haven't experienced this much of a load to dump. They probably won't be able to do it and I wonder how long this will go on. Also they have been chatting about the strong consumer with a large savings from the stimulus, but i think they are full of sh!t. Maybe some people stuck it away, but the spenders have long ago blown out their excess cash.
Bingo. The govt is looking at net worth and equating people saved the stimulus. They didnt, their real estate appreciated, which is unrealized gains. Thats where the household “wealth” is. But its only on paper, which means the whole figure is suspect. Wait for the margin calls to begin when people mortgaged their houses to pay for stocks and crypto, the whole house of cards will fall.
Quoted from kool1:We are due for a rally soon though.
Add in oil on this pullback.
Careful, that light at the end of the tunnel just might be a freight train….
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