The economy continues to drop. Wild things are happening like Snap losing 50% of it’s value overnight! AJ explains what’s going on and what he plans on doing about it!
Snap took an almost 50% dive: https://www.cnbc.com/2022/05/24/snaps-down-32percent-and-its-dragging-other-stocks-down-with-it.html
The S&P500 has been on a steady decline since late march: https://finance.yahoo.com/quote/%5EGSPC?p=%5EGSPC
Silicon chips come mostly from Taiwan: https://www.wsj.com/articles/the-world-relies-on-one-chip-maker-in-taiwan-leaving-everyone-vulnerable-11624075400
Chairmen of the federal reserve continues to promise higher interest rate hikes: https://www.wsj.com/articles/jerome-powell-puts-paul-volcker-on-hold-federal-reserve-interest-rates-inflation-11651702723
Volker let interest rates get over 20%. His theory was that interest had to be above the rate of real inflation to curb leverage and level off prices: https://www.cnbc.com/2019/12/09/when-volcker-ruled-fed-people-thought-theyd-never-buy-a-home-again.html
Jerome Powell was praising Volker earlier this month and has since back tracked a bit stating that he doesn’t see signs of a wage, price spiral: https://www.wsj.com/articles/jerome-powell-puts-paul-volcker-on-hold-federal-reserve-interest-rates-inflation-11651702723
