This honestly doesn’t surprise me. When over half the country has already felt like they’ve been through a recession, that says a lot more than whatever the official GDP or unemployment numbers show. Meredith Whitney's take on the fragility of the economy makes sense—people might be working, but wages haven’t kept up, debt’s rising, and prices are still speed stars high. The "headline numbers" don't reflect what most households are really going through. Definitely going to give that interview a listen.
Wow, 41,376 on the Dow—that's a crazy milestone. I totally forgot how low it was during the financial crisis (6,469... yikes). The reversal of over 1,000 points in just hours is wild too. Feels like the market's running on fumes and nerves right now. If 40,000 doesn't hold, that could be a huge psychological subway surfers blow. Pretty interesting take from Tim Knight—he always leans bearish, but he's been right about big turns before.
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Next Downturn Underway
Now Industrials