When The Data Can't Be Trusted, How The Heck Can We Know How The Economy Is Doing? | Wolf Richter

The war of conflicting narratives continues. Bulls point to Q2's robust GDP growth, still relatively low unemployment, an upside surprise in July retail sales, and record high prices for both stocks and existing homes. Bears on the other hand warn about slowing Q3 estimated GDP growth, the triggering of the Sahm rule recession indicator, this week's massive downward revision in payrolls, rising consumer debt delinquencies and recent surveys reporting that half of American adults have less than $500 in savings. When sentiment is full of such crosscurrents, it's prudent to seek the counsel of those who take. cold and calculated look at the data, to see what "is" vs what our biases may want us to see. Which is why we're fortunate to speak with macro analyst Wolf Richter of WolfStreet.com, who will share with us what the charts he regularly compiles are telling him about the true state of today's economy & markets. WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com #recession #economy #jobsdata