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Today GDP for the 2nd quarter of 2022 came in at -0.9%, which was the 2nd straight quarter of negative GDP growth, indicating a technical recession.
https://www.forbes.com/sites/jonathanpon...a02d33877b
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07-28-2022, 11:57 AM
(This post was last modified: 07-28-2022, 11:57 AM by Vle045.)
I wanna know when we have hit rock bottom so that I can dump a bunch of money in my IRA.
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(07-28-2022, 11:57 AM)Vle045 Wrote: I wanna know when we have hit rock bottom so that I can dump a bunch of money in my IRA.
Unfortunately, only Nancy Pelosi's husband has perfect timing, and he's not sharing. LOL
It's also hard to do because rock bottom of the recession and rock-bottom of any particular stock or the stock market in general aren't necessarily tied together.
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Average earnings for the S&P 500 are still expected to be up 10% in the 3rd quarter of 2022. The stock market is still up with some exceptions for tech stocks such as Netflix (NFLX).
Normally in recessions, what happens is corporate earnings go negative, the stock market crashes, then there are layoffs, with the lagging indicator being GDP growth.
This recession looks like the housing market is taking a big hit with the higher interest rates.
https://www.axios.com/2022/07/28/housing...rates-jump
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The article says the actual recession won't be called until early next year. It will be much sooner than that. The govt will admit we're in a recession on November 9th of this year.
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