Jim Cramer says he doesn't see a recession coming
Per CNBC
Jim Cramer went on CNBC to tell investors that he doesn't think there'll be a recession coming. This came as Cramer pointed out how a recession wasn't inevitable in many sectors, including banking, homebuilding, travel, and leisure.
Cramer gave a statement regarding the situation of the economy, saying he didn't see a recession heppening. He also pointed out different factors and how the "thesis just doesn't hold up."
Cramer: “Those who cling to the notion that we’re about to enter recession must find all of these examples daunting, if not depressing... But earnings season has shown the recession thesis just doesn’t hold up under close scrutiny, even if so many so-called experts tell us otherwise.”
Cramer then highlighted homebuilders, saying they should've been hit the hardest, but instead, they performed well amid a shortage in housing.
In mid-May, it was reported that Cramer said that an economic wave was about to hit and that it'll be fantastic for investors. He did start off the statement by explaining how basing financial decisions on economic data could be "wrong."
Toward the end of May, Cramer said that the debt ceiling doesn't bother Wall Street. He said this while looking at market activity, proposing the question as to whether the debt ceiling standoff meant anything.
See flow at unusualwhales.com/flow.
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- Jim Cramer: an economic wave is about to hit that will be fantastic for investors.
- Jim Cramer says debt ceiling doesn't bother Wall Street
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