Moody’s lowered the country’s credit outlook while affirming its A1 rating.
The sails are torn and fluttering fiercely like flags in a windstorm. The ship has stopped slicing through the waves, and its timbers are shuddering on the rocks.
The Dow plunged 686 points midday on Thursday and closed down 458, wiping out a large relief rally from the day before, and it went down for the key reason I laid out for understanding why the Fed will over-tighten and drive the economy into an extremely deep recession.
Everyone Sings the “Strong Labor Market” Tune in Unison as the Band Plays On, and They’re All DEAD Wrong!
Everyone in financial media is singing in unison, and the song they are all singing is a recessional for the recession
To many economists, saying we are going into an economic crash would be a prediction because over eighty percent of economists do not believe we are even in a recession right now, much less a total economic collapse.
It all goes down in the same heap of rubble — zombie corporations and the junk bonds that are their sole life support and, piled on top, some of the banksters that funded them.
REAL GDP SAYS: “Get Real! Trust not the Fed, Economists or the President. The REAL Economy is Collapsing All Around You!”
As reported in my new Daily Doom news section, which I try to update twice daily, real GDP fell even further for a second quarter in a row.
The twaddle that comes out of the White House is deep right now.
Jamie Dimon, CEO of JPMorgan Chase, set last week off with a fitting sour note when it was reported across the financial news, he had updated his weather report for the economy
With the S&P diving deeper into bear territory today, it solidly confirmed its status as a bear.