The United States is in an actual recession after going through two quarters of negative GDP, BUT they changed the definition of what a is considered a "recession". Why? Because it's an election year. The government needs to manipulate economic data and gaslight people.
United states GDP has grown by 2.6% in Q3
https://www.cnbc.com/2022/10/27/us-gdp-accelerated-at-2point6percent-pace-in-q3-better-than-expected-as-growth-turns-positive.htmlSo even if it was in a technical recession for the first half of the year it's out of it!
we are hearing those warning from reputable people like chamath palihapitiya and his cohorts. i don't think those guys are lying to us.
Oh yeah, reputable people :
The SPAC King Goes Silent With His Empire Shriveling
The guy that news the recession a coming told everyone so and yet somehow miraculously didn't do a thing about
https://www.marketwatch.com/story/the-spacsplosion-is-about-to-become-a-liquidation-frenzy-and-that-may-be-for-the-best-11657884798Chamath Palihapitiya, for example, is best known for buying Virgin Galactic Holdings SPCE, +3.68% with the first of his nine SPACs, and was dubbed the “Pied Piper of SPACs” by the New Yorker. The shares in his three de-SPACs, however, have since fallen, even though Palihapitiya has managed huge personal gains from the deals. In a recent report by Massachusetts Sen. Elizabeth Warren’s office, Palihaptitiya is listed as an example of the misaligned incentives in SPACs and how the sponsors are rewarded, especially “serial SPAC sponsors,” while leaving retail investors “at risk from SPACs’ convoluted structure and incentives for dilution, fraud and abuse.”
In the end, it is these sponsors, like Palihapitiya and Virgin Galactic’s Richard Branson, as well as Wall Street investment banks for the initial SPAC IPO, that walk away with the big gains. The remaining original IPO investors who are still in these stocks, for the most part, will be lucky to get out with their initial investment. But for the most part, the original IPO investors are long gone.
Oh, another Kiyosaki, telling others how to do their business while running their own into the ground and bankrupting every investor.