American economic activity is at its strongest pace since 2021. 🔥
The composite PMI rose, with both industry and services accelerating together, and both driven by new orders.
This directly contradicts those who have been shouting “imminent recession” since the beginning of the year.
You can have a bear market in crypto while interest rates are rising and economic activity is strong at the same time. These are different things.
New orders growing in industry and services means companies are selling, hiring, and investing.
Capital is still being generated and still needs somewhere to go.
Now add Treasury debt buybacks and liquidity being created while the economy keeps running.
Will the doomers be wrong again?
The composite PMI rose, with both industry and services accelerating together, and both driven by new orders.
This directly contradicts those who have been shouting “imminent recession” since the beginning of the year.
You can have a bear market in crypto while interest rates are rising and economic activity is strong at the same time. These are different things.
New orders growing in industry and services means companies are selling, hiring, and investing.
Capital is still being generated and still needs somewhere to go.
Now add Treasury debt buybacks and liquidity being created while the economy keeps running.
Will the doomers be wrong again?
