Yep that one surprised me too, will admit that for sure.
Hertz is a scam company now that’s squeezing every last drop of goodwill out of the brand name.
FYP.
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The announcement of possibly bankruptcy was only a “bear trap” according to BBBY bagholder cultists on reddit (not WSB, but a sub specifically for BBBY investors). The company has something up their sleeve but wants to bait shorts meanwhile.
These people just couldn’t take an L if their life depended on it.
Bonds maturing in '24 going out 10.5 cents bid 12 cents offer this morning.
So if they are believers just buy the bonds, they’re an 8x in a year!
Today I learned about Cellar Boxing.
Tl;Dr: it’s an infinite money glitch
Am I the outlier here? I think the fed has managed things well so far, and I don’t think it’s obvious at all that we’re going to have a recession.
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My issue, as always, is that that Fed minutes basically say they’ll keep rates high or keep increasing until they see the labor market weakness. Unless they blink and decide we can live with higher long-term inflation, I just dont see how we avoid a recession.
Market is responding positively to the weaker than expected wage gain (real wages declining) numbers.
I agree with your first point but not your second. But you’re a literal economist so perhaps I should reconsider 
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I’m only a pretend economist. I just try to teach people how to read financial statements.
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Anyway I’m just taking the feds words at face value. The market is irrational and salivating at even just smaller rate hikes.
I think the system is more complex because the Fed’s comments alone impact the economy. It would be rational for the Fed to internally be able to live with higher long-term inflation while simultaneously talking tough.
I dont think the Fed has the credibility with risk markets to pull that off right now.
Read this article and it doesn’t make any sense. Who is buying these now defunct stocks at $0.0001? Who is giving these funds money for short selling these worthless companies?
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Sounds like you’re in denial about CELLAR BOXING.
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Yesterday the markets went down on good financial news, today the markets are up on similar good financial news.
An interesting point made by Jason Furman: the estimated average hourly earnings growth (AHE) is unusually noisy in recent months. The revisions to original estimates have been quite extreme:
https://twitter.com/jasonfurman/status/1611382775713603584
https://twitter.com/jasonfurman/status/1611382779408785410
So if you’re trying to get a good estimate of current wage rate growth (something that the Fed is probably trying to tamp down), that number could be anywhere from 3.9% (which is probably good news for stonks) to almost 6% (which would probably trigger much tougher Fed action).
Hopefully they navigate a smooth landing.
Yeah, it’s hard to realistically imagine the Fed doing a better job. Inflation is already subsiding and unemployment is < 3.5%. Like, what do people even want??
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