Trading is the biggest battle against your mind.
You face fear, greed, anger, sadness on a daily basis.
But if you can overcome it, you can do anything.
The Fed, despite "structural labor shortages," is purposely driving up unemployment so that those currently working at decent wages will lose their jobs only to return to work at lower levels of pay. That's an insane prescription when increased immigration is the actual answer!
High-frequency economic indicators show that the slowdown in global growth is increasingly evident. See our latest Chart of the Week blog for a snapshot of the data and factors at play. https://t.co/bNexMiGNBd
If the Fed does not pivot, the set-up will be more like 1929. The Fed raised rates in 1929 to squelch financial speculation and then, in 1930, Congress passed Smoot-Hawley, putting 50%+ tariffs on more than 20,000 goods and pushing the global economy into the Great Depression.
If inflation is unwinding, as we believe, then we could be heading back to the future, the Roaring Twenties, the last time several general purpose technologies evolved at the same time: telephone, electricity, and the internal combustion engine. The setup is remarkably similar!