Special Delivery for you Nattering Nabobs of Negativism

Don’t see a “gifting” option, but I’ll capture the first couple paragraphs of this fairly lengthy article from today’s Wall Street Journal on Page 1.

More than a year af­ter the Fed­eral Re­serve be­gan rapidly rais­ing in­ter­est rates to tame in­fla­tion, the hall­marks of a widely ex­pected re­ces­sion remain elu­sive.
Em­ploy­ers are hir­ing ag­gres­sively, con­sumers are spend­ing freely, the stock mar­ket is rebounding and the hous­ing mar­ket ap­pears to be sta­bi­liz­ing—the most re­cent ev­i­dence that the Fed’s ef­forts have yet to sig­nif­i­cantly weaken the econ­omy.

In­stead, the lin­ger­ing ef­fects of the pan­demic have left con­sumers and em­ploy­ers still play­ing catch-up. That mo­mentum could prove self-sus­tain­ing.

Amer­i­cans are splurging on the ac­tiv­i­ties they skipped dur­ing pan­demic lock­downs, such as travel, con­certs and din­ing out. Busi­nesses are staffing up to sat­isfy the pent-up de­mand. Gov­ern­ment poli­cies in re­sponse to the pan­demic—low in­ter­est rates and tril­lions of dol­lars in fi­nan­cial assistance—left con­sumers and busi­nesses with lots of money and cheap debt. The same in­fla­tion that so wor­ries the Fed trans­lates into higher wages and prof­its, accelerating spend­ing.

So, like the song says: Don’t Worry, Be Happy.

Oh wait, maybe I found it: Why the U.S. Remains Far From Recession - WSJ

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I’m waiting for the only sure sign of recession. That will be when Barron’s* puts “No Recession In Sight” on their front page in large type. :joy:

* Owned by same owners as the WSJ, but uses a somewhat different method of reporting.

Try using this website, just copy paste the URL. Works the majority of the time.



The Captain



From your last link explaining it all… a snippet…but first a comment. The WSJ, affectionately called the ‘urinal’ in lower Manhattan, has never supported Demand Side Economics. Keep that front of mind.

“Job gains, in particular, remain robust, pumping more money into Americans’ wallets. Payrolls grew by a surprisingly large 339,000 in May, and the increases for the preceding two months were higher than initially estimated, the Labor Department said Friday.”