Thread by @YossiGestetner

You can always rely on CNBC's on air talent to spread PANIC. Remember TARIFF ON MECIXO will crash the economy and INVERTED YIELD CURVE means a MASSIVE recession? Sheesh. Take a chill pill. 2019 was of the best economic years since Clinton's 1990s! economicstressindex.com/annual

Enough.

https://twitter.com/jimcramer/status/1232817833983213569

Inbox: People say that Stock Market gains are a bubble. Well, so are the losses. There is no #coronavirus deaths yet in the US and it sure is not on a mass scale which even if it happens we have 60K flu deaths annually and life continues, yet the Stock Market is now crashing!

Inbox continued: People are losing big money in this panic-driven market plunge. This can kill consumer confidence; which kills spending; which slows businesses which causes people to lose jobs - All while #coronavirus deaths are zero at this time in the US.

cc @jimcramer

Last week, the major indexes in the US were reaching records despite #coronavirusus being active for 2 months already. This week, the indexes are down 12% and counting. It was complacency last week and panic this week. Neither week was/is based on reasonable action by investors.

The economy went into recession in Dec 2007 but things were quite calm. The Unemployment Rate averaged 5.16% for the first half of 2008; which is better than all but one of Obama's years and better than half of Clinton years! Then in the summer, a few investment bans were having

trouble from the housing market but unrelated to the economy overall. The National Media and Financial Press decided to go to town with it. Consider: Right before the Sep 15 bankruptcy of Lehman, McCain was leading in the polls over Obama as you can see here some numbers:

But we can't let a GOPer win the White House in 7 weeks so no problem. Let's pretend that the whole economy was dependent on Lehman and panic-spreading by the media begun. From that moment on, Obama led in EVERY NATIONAL POLL! (Except 2 in mid Sep)

realclearpolitics.com/epolls/2008/pr…

Last week, the markets were still setting records despite Coronavirus raging for months but a few bad developments happened late last week so let's start spreading panic over it because why not. Yelling TARIFFS didn't kill the market and then the economy so maybe this will.

"But Yossi. Employment is a lagging indicator. Can't look at that regarding 2008."

Ok, try this: The ISM manufacturing index was at 50.2% for June 2008; 50% for July and 49.9% for August. A 50 reading means growth!

It crashed to 43.5% in Sep and 38.9% in Oct.

Manual PANIC!

"Consumer sentiment climbed to 101.0 in February, up from 99.8 last month, according to the University of Michigan. That’s the highest reading since March 2018." But... "8% in the survey mentioned the coronavirus, but that rose to 20% in the final days of the month."

(CNBC)

How to Report News:

Chicago Heat Wave 500+ dead in 1995 (Clinton), Blame local government.

Katrina that local/state neglected to act, blame federal (Bush).

People dumpster diving for food 2 days after Sandy (Obama), blame local or ignore it.

Corona? Federal gov again.

HACKS!