Are We in a Recession?

Are we in a recession? www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
Are we in a recession? Is the old saying, if
it looks like a duck quacks like a duck's probably duck. Yeah.
The numbers that we've been seeing, and again the government numbers,
they are always skewed to be more positive than they
actually are. We pointed out last week that the GDP

(00:37):
numbers were weak at best. They revise them downward. But
if you take out government spending were lower than one percent. Again,
you look at the jobs numbers. Private jobs declined by
twenty eight thousand, government jobs grew by forty Really, that's

(01:00):
kind of a strong economy. Oh no, it's a hurricane. No,
it's not the hurricanes. Take a look at manufacturing numbers.
Your manufacturing sector has been in a recession for twenty
four months straight. I haven't seen that since the nineteen nineties.
This is quite frankly, this is the reality, the reality

(01:23):
of the train. Okay, we deal with reality here on
the program. Again, the government will skew things, are going
to lie to whatever it may be. The recession call
is made by the National Bureau of Economic Research out
of Cambridge, and oftentimes they wait not make a call
in a recession until a year after it already happened.

(01:45):
So again we don't bear it much mind. But if
you're not cognizant of the economic weakness that surround us
right now, and the box at the fit of Reserve
has been put in, Fed just lowered rates by fifty
basis points and the market said, yeah nah, now they
ain't paying attention to it. For crying out loud, this

(02:07):
is where we're at right now. Again. Get the government
out of the way. We've got to get the government
down to size. We got to get companies willing to
start moving and grooving and investing again. Could there be
a holding period right now or pattern that we're seeing
outside of some of the AI and tech stuff because
of the election? Yeah? Yeah. Do I think getting the

(02:31):
government out of the way and getting rid of regulations
and lowering energy costs and a myriad of other things
would set us on the right path, Yeah, I do.
But the path that we're currently on right now well again.
It is most certainly slow, anemic growth and recessionary without
a doubt. Watchdog on Wall Street dot Com