Godlike Productions - Discussion Forum
Users Online Now: 1,855 (Who's On?)Visitors Today: 397,075
Pageviews Today: 870,580Threads Today: 373Posts Today: 7,692
01:50 PM


Rate this Thread

Absolute BS Crap Reasonable Nice Amazing
 

‘The economy is going to collapse,’ says Wall Street veteran Novogratz.

 
Anon Braveheart
Offer Upgrade

User ID: 76517917
United States
06/16/2022 01:34 AM
Report Abusive Post
Report Copyright Violation
‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
‘We are going to go into a really fast recession.’

“Housing is starting to roll over,” he said. “Inventories have exploded.”

“There are layoffs in multiple industries, and the Fed is stuck,” he said, with a position of having to “hike [interest rates] until inflation rolls over.”

Before the Fed announced its decision, Novogratz speculated — accurately, it turned out — that the central bank would lift interest rates by 75 basis points and that the market would rally on that news. He also predicted that stocks will sell off in the coming days.

“They are hiking into the popping of a bubble,” Novogratz said, referencing the soaring price tags on luxury Swiss watches and other assets.

So far, the noted investor’s prediction has played out, with the Dow Jones Industrial Average DJIA, +1.00% rising more than 300 points, or 1%, after briefly running its gain to 600 points, after the Fed meeting broke up and a news conference hosted by Chairman Jerome Powell got under way.

[link to www.marketwatch.com (secure)]
Anon Braveheart
Anon Braveheart  (OP)

User ID: 76517917
United States
06/16/2022 01:39 AM
Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
Powell: Fed 'not trying to induce a recession' with interest rate hikes

“We’re not trying to induce a recession now, let’s be clear about that,” Powell told reporters after the policy-setting Federal Open Market Committee raised short term rates by 0.75%.

Powell said the Fed’s goal is to depress the rapid pace of inflation closer to its 2% target, all while preserving a “strong” labor market. Forecasts released by the Fed showed confidence in the central bank’s ability to hit both marks, although economists say the task will be tough.

Projections from the Fed published Wednesday showed the median official expects interest rates will rise to 3.4% by year-end, well above the 2.5% level that many Fed officials have described as “restrictive” for economic activity.

“[G]oing faster and deeper into restrictive territory implies a greater risk of a hard landing,” ING Economics wrote Wednesday afternoon.

A “hard landing” outcome would be the opposite of forecasts from the Fed, and may look like a sharp spike in unemployment as the rapid pace of rate hikes halts economic activity.

“There’s a pathway here. It is not going to be easy,” Powell said Wednesday. He added that inflation remains the priority, noting that “clearly, people do not like inflation.”

[link to finance.yahoo.com (secure)]
Anon Braveheart
bigD111

User ID: 81114246
United States
06/16/2022 01:39 AM

Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
I concur! Housing is very sensitive to interest rates, one of the first indicators. It has already hit the skids!
deplorably republican
Anonymous Coward
User ID: 82691486
United States
06/16/2022 01:43 AM
Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
bubbles usually lose 90% then the vultures swoop in.
and....theres elon!
Anon Braveheart  (OP)

User ID: 76517917
United States
06/16/2022 01:52 AM
Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.


Anon Braveheart
Anonymous Coward
User ID: 83140967
Canada
06/16/2022 02:02 AM
Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
But donations to other countries and other frivolous spending and stuff though :/ wadddaayamean
Just Passing Through

User ID: 83395863
United States
06/16/2022 02:10 AM
Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
one person?
Abha Torus 3 6 9
Anonymous Coward
User ID: 79904252
United States
06/16/2022 02:36 AM
Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
‘We are going to go into a really fast recession.’

“Housing is starting to roll over,” he said. “Inventories have exploded.”

“There are layoffs in multiple industries, and the Fed is stuck,” he said, with a position of having to “hike [interest rates] until inflation rolls over.”

Before the Fed announced its decision, Novogratz speculated — accurately, it turned out — that the central bank would lift interest rates by 75 basis points and that the market would rally on that news. He also predicted that stocks will sell off in the coming days.

“They are hiking into the popping of a bubble,” Novogratz said, referencing the soaring price tags on luxury Swiss watches and other assets.

So far, the noted investor’s prediction has played out, with the Dow Jones Industrial Average DJIA, +1.00% rising more than 300 points, or 1%, after briefly running its gain to 600 points, after the Fed meeting broke up and a news conference hosted by Chairman Jerome Powell got under way.

[link to www.marketwatch.com (secure)]
 Quoting: Anon Braveheart


don`t have to be an expert or on wallstreet to know that, everyone who is paying $5 a gallon for gas and can`t afford to do it knows the economy is going down the toilet REAL fast. the common people know things before wallstreet does because the common people know what they can and can`t afford before wallstreet does.
FastEddyTortuga

User ID: 80002311
Canada
06/16/2022 03:08 AM
Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
Controlled demolition.
6uild 6ack 6etter.
WGON
"Get that idiot off the air!"

User ID: 83196906
United States
06/16/2022 03:11 AM

Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
It's by design. Again. But you already knew that.
"Luck is the residue of design."

"Through readiness and discipline, we are masters of our fate.
You might call that notion ironic. But trust me, you'll come around."

"It's like I told my last wife, I said Honey I never drive faster than I can see, and besides, it's all in the reflexes..."
CK Dexter Haven

User ID: 83487220
Romania
06/16/2022 03:13 AM

Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
Got any more of that Ukraine money?

biden2
FastEddyTortuga

User ID: 80002311
Canada
06/16/2022 03:16 AM
Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
Housing prices may drop a little, but that will not make them more affordable.
Higher interest rates will result in higher payments.
FastEddyTortuga

User ID: 80002311
Canada
06/16/2022 03:17 AM
Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
ididthat
FastEddyTortuga

User ID: 80002311
Canada
06/16/2022 03:18 AM
Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
Housing prices may drop a little, but that will not make them more affordable.
Higher interest rates will result in higher payments.


They are working the problem from the wrong end.
They should be increasing supply and productivity.
Starting with oil.

They are trying to curb demand by raising interest rates.
This may reduce demand and therefore prices on some big ticket items like homes, cars, trucks, but it will make none of those things more affordable. The price may be lower, but the payment will be higher.

The cost of necessity goods and services that are already in short supply will probably increase if those businesses need to borrow money to operate. They will pass the added cost of interest into their goods and services, especially if demand remains higher than supply.

Forcing a decrease in demand for cars, trucks, and luxury goods and services will hurt some businesses, and may cause layoffs and/or business closures, which will cause further harm to the economy.

Increasing interest rates during times of supply shortages looks really stupid.

While our government appears to be incompetent, I am starting to think the opposite may be the case.
It looks more like they want to completely destroy America in order to rebuild it as something else.
Theodesus

User ID: 990180
Austria
06/16/2022 03:18 AM

Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
‘We are going to go into a really fast recession.’

“Housing is starting to roll over,” he said. “Inventories have exploded.”

....

So far, the noted investor’s prediction has played out, with the Dow Jones Industrial Average DJIA, +1.00% rising more than 300 points, or 1%, after briefly running its gain to 600 points, after the Fed meeting broke up and a news conference hosted by Chairman Jerome Powell got under way.

[link to www.marketwatch.com (secure)]
 Quoting: Anon Braveheart


Really?! I haven't been aware of this for many many years!!!
Limpan

User ID: 83641961
Sweden
06/16/2022 03:22 AM

Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
They will blame it on Putin


pffft-spitsmoke
Anonymous Coward
User ID: 83673767
06/16/2022 03:22 AM
Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
They will blame it on Putin


pffft-spitsmoke
 Quoting: Limpan


putin
Anonymous Coward
User ID: 77224019
United States
06/16/2022 03:37 AM
Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
Donate to Ukraine?
Keep doing that til you go poor?
agumball
Anonymous Coward
User ID: 83652381
United States
06/16/2022 03:37 AM
Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
I love how these economists talk about the oncoming recession, as if to imply that this will be a temporary situation.

It is NOT a recession. It is a regression brought about by progressives and their ideological penchant to destroy everything they touch.
Anonymous Coward
User ID: 77741176
06/16/2022 03:44 AM
Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
More opium-burger
Anonymous Coward
User ID: 80236196
United States
06/16/2022 03:48 AM
Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
‘We are going to go into a really fast recession.’

“Housing is starting to roll over,” he said. “Inventories have exploded.”

“There are layoffs in multiple industries, and the Fed is stuck,” he said, with a position of having to “hike [interest rates] until inflation rolls over.”

Before the Fed announced its decision, Novogratz speculated — accurately, it turned out — that the central bank would lift interest rates by 75 basis points and that the market would rally on that news. He also predicted that stocks will sell off in the coming days.

“They are hiking into the popping of a bubble,” Novogratz said, referencing the soaring price tags on luxury Swiss watches and other assets.

So far, the noted investor’s prediction has played out, with the Dow Jones Industrial Average DJIA, +1.00% rising more than 300 points, or 1%, after briefly running its gain to 600 points, after the Fed meeting broke up and a news conference hosted by Chairman Jerome Powell got under way.

[link to www.marketwatch.com (secure)]
 Quoting: Anon Braveheart


they are going to pull the reset before the next election. trump 2024, never going to happen
Anonymous Coward
User ID: 78259833
United States
06/16/2022 03:48 AM
Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
They will blame it on Putin


pffft-spitsmoke
 Quoting: Limpan


putin
 Quoting: Anonymous Coward 83673767


And the "green" shyte started before putin rolled into the Ukraine.


The people of the u.s. are generally wasteful. The least educated/new populations litter copiously.

People like this won't change their behavior unless forced.

These are also the street crime performers, many of whom won't take the clot shot.

They know they are unwanted and expendable.

All the virtue signaling doesn't change their grasp of reality.


We could stop letting so many in.


Monied types, do more of your own scut work until the tech exists/is economical.


What has happened is the destruction of the productive segments of society.


Reality does have a way of undermining all convenient and otherwise idealisms.
Anonymous Coward
User ID: 83671839
Australia
06/16/2022 03:49 AM
Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
When?

It's vague. Anyone can say the economy is going to collapse...
VegasRick

User ID: 81045925
United States
06/16/2022 03:50 AM
Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
There's no coming bailout like in 2008 and that is why this will be worse.

Inflation is nasty beast.

hiding
Anonymous Coward
User ID: 32227873
United States
06/16/2022 03:55 AM
Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
Anonymous Coward
User ID: 82934545
United States
06/16/2022 03:56 AM
Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
Housing prices may drop a little, but that will not make them more affordable.
.....

They are trying to curb demand by raising interest rates.
This may reduce demand and therefore prices on some big ticket items like homes, cars, trucks, but it will make none of those things more affordable. The price may be lower, but the payment will be higher.

.....
 Quoting: FastEddyTortuga


Not everyone lives off of debt. But, yes, I get what you're implying. The economy will suffer.
Anonymous Coward
User ID: 78765019
06/16/2022 04:10 AM
Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
Miami shootout guy locked his thread.

'Just a shotgun' WILL SAVE YOU.

It's proven to be one of the meanest most formidable weapons ever developed in all simulations, plus real world situations.

We're talking about real warfare with full autos.
Ferinha Neném

User ID: 83648754
Brazil
06/16/2022 04:21 AM
Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
What's the next thing the Wall Street veteran will tell us?
That the water is wet?
That fire is hot?
Anonymous Coward
User ID: 80750616
06/16/2022 04:46 AM
Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
Powell: Fed 'not trying to induce a recession' with interest rate hikes

“We’re not trying to induce a recession now, let’s be clear about that,” Powell told reporters after the policy-setting Federal Open Market Committee raised short term rates by 0.75%.

Powell said the Fed’s goal is to depress the rapid pace of inflation closer to its 2% target, all while preserving a “strong” labor market. Forecasts released by the Fed showed confidence in the central bank’s ability to hit both marks, although economists say the task will be tough.

Projections from the Fed published Wednesday showed the median official expects interest rates will rise to 3.4% by year-end, well above the 2.5% level that many Fed officials have described as “restrictive” for economic activity.

“[G]oing faster and deeper into restrictive territory implies a greater risk of a hard landing,” ING Economics wrote Wednesday afternoon.

A “hard landing” outcome would be the opposite of forecasts from the Fed, and may look like a sharp spike in unemployment as the rapid pace of rate hikes halts economic activity.

“There’s a pathway here. It is not going to be easy,” Powell said Wednesday. He added that inflation remains the priority, noting that “clearly, people do not like inflation.”

[link to finance.yahoo.com (secure)]
 Quoting: Anon Braveheart



How does nobody see the problem??


The Inflation is external, China is passing their Inflation off on the USA

Increasing Interest will not affect inflation levels or it will make them worse.
Anonymous Coward
User ID: 80750616
06/16/2022 04:48 AM
Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
Miami shootout guy locked his thread.

'Just a shotgun' WILL SAVE YOU.

It's proven to be one of the meanest most formidable weapons ever developed in all simulations, plus real world situations.

We're talking about real warfare with full autos.
 Quoting: Anonymous Coward 78765019


no its not, not even close

I could take your whole leg off at 300 yards with my AR-10

a shotgun wouldnt even hit me
ReoX

User ID: 83670816
Malaysia
06/16/2022 04:50 AM

Report Abusive Post
Report Copyright Violation
Re: ‘The economy is going to collapse,’ says Wall Street veteran Novogratz.
noshit





GLP