“Rapid growth is no longer possible” and “inflation is not going to be tolerated” in societies with slow wage growth: head of central bank of Singapore. It has been said out loud.
Facebook, Apple, NVIDIA, Google, Microsoft, Amazon, Netflix, Tesla, Intel, and Salesforce, weighing 25% of total market, are on one heck of a ride, now in the wrong direction.
Continued unemployment claims rise for 2nd week, to 29.6 million, worst since Aug 1, meaning 18.4% of labor force is on unemployment insurance. State & federal initial claims jumped to 1.7 million in the week.
Still a lot of fawning coverage, but big dissenters are now given prominent spots, and loaded questions are used to politely hammer Powell into telling obvious nonsense.
