Still think TITNC3: Return of the Iceberg was peak

So do I. 2020 was not a recession by definition. Q1 dropped but Q2 was higher then Q1. Not a fucking recession. What do I win?

 

Here

 

I love mushrooms. Speaking of that. NFLX did a documentary on Mike Polan's book How To Change Your Mind. I highly recommend watching it.

OK. Back to stonks. So WMT lowered guidance and blamed inflation for that lowered guidance. We've got a lot of data this week and none of it will be good. The one two punch will come WED when the FED raises rates and THUR when GDP misses by more then expected.

 

There were 2 consecutive quarters of negative GDP in 2020.

 

I DECLARE RECESSION!

 

But Wednesday is MOASS. So……..

 

Yeah, there was. I was using a chart instead of graph when I looked at it first. I should have fact checked better but I'm lazy. lol

 

Also! CNN says Walmart saying inflation hurt consumers and lowering guidance is a sign inflation may be easing because they are lowering prices. I didn’t check their math, but sounds like it’s all good and we have defeated inflation. No worries

 

To be fair, most people didn’t seem to realize it was a recession because it rebounded so quickly.

 

I’m not familiar with your source so I can’t comment on this.

 

Inflation is running strong. It will continue to grow until the FED Volcker's that shit into the ground. Most likely taking our economy with it. We can rebuild. We've gotten very good at that. lol

 

Yep. A couple trillion in free handouts will do that. lol

 

That’s what got us here!

 

Exactly. I ranted about it a few months ago. Piss poor planning for over a decade. As long as the dollar stays strong we'll be fine. If the dollar starts to tank all bets are off.

 

I’d bet a lot that were in a recession right now with two quarters in the books, I’ve been saying that for months.

 

I've been saying the same. Most of us here agree on that. If GDP is higher then last quarter it's because someone is cooking the books. lol

 

One caveat, I think the stock market reached its lows, and if not the decline won’t reach 50% and be back in a year or two at the longest. I don’t think it will be severe.

 

It won't be a long one but I think the NASDAQ will test 10K before OCT. If and when it does I'll have some cash to scoop up some cheap tech stocks. Mainly NVDA. lol

 

I’ve expected the NASDAQ to drop 90% for years, it may not reach that but I think it should. It was tech bubble 2.0 with the valuations and non-profitable companies. Let it burn, it needs to.