Archive for 2022

WELCOME BACK, CARTER! Deutsche Bank is the first big bank to forecast a US recession.

Although Deutsche Bank cautioned there is “considerable uncertainty” around the exact timing and size of the downturn, it’s now calling for the US economy to shrink during the final quarter of next year and the first quarter of 2024, “consistent with a recession during that time.”

The good news is Deutsche Bank is not forecasting a deep and painful recession like the past two downturns.

Rather, the bank expects a “mild recession,” with unemployment peaking above 5% in 2024. That would still translate to considerable layoffs. During the Great Recession unemployment peaked at far higher levels of 14.7% in 2020 and 10% in 2009.

This coming recession would allow inflation to get back towards the Fed’s target by the end of 2024, Deutsche Bank said.

“With the unemployment rate receding only slowly following the peak, inflation should continue to moderate, falling to the Fed’s 2% objective in 2025,” Deutsche Bank said.

Hey, fair is fair — whoever is running against Biden (or his replacement) in 2024 gets to call that “the worst economy in fifty years!”, don’t they?

Related: Recession Definition: What Is A Recession?

REALITY IS GETTING HARDER TO DENY:

ARROGANCE OR STUPIDITY? EMBRACE THE POWER OF “AND”: It’s no secret that the mayor of Chicago, Lori Lightfoot, is a raving moron. But I can say based on 40 years experience as a reporter and media lawyer — and pal Mark Tapscott will back me up on this:

Nothing, but nothing, sends up a red flag to reporters quite like when a politico files a “motion to seal” court proceedings. It’s catnip. Total catnip.

From the Chicago Tribune:

“The Park District’s motion to seal the case acknowledges a Zoom call occurred involving high-ranking city lawyers Celia Meza and John Hendricks, then-Park Board President Avis LaVelle and parks Chief Operating Officer Patrick Levar, as well as Smyrniotis, who was the Park District’s deputy general counsel, and then-general counsel Timothy King. The Park District argues that the case should be sealed to protect its interests as it defends a separate lawsuit brought by an Italian Americans group over Lightfoot’s removal of a Columbus statue in Little Italy.”

Who wants to be the first to tell these corrupt jokers that government organizations do not have privacy interests in the first place…

SPACE: Jeff Bezos and Amazon just hired everybody but SpaceX for Project Kuiper.

Amazon on Tuesday announced the largest commercial launch deal ever. The company said it has finalized agreements with three different rocket companies for a total of 83 launches. The rockets will deploy a majority of Amazon’s low-Earth-orbit constellation of broadband satellites.

With this deal, Amazon has acquired an extraordinary amount of medium- and heavy-lift launch capacity over the next five years, procuring launches from every major Western provider except for its direct satellite competitor, SpaceX. Aside from SpaceX, this purchase represents the vast majority of any “spare” launch capacity for larger rockets in the United States or Europe over the next half-decade.

Amazon announced launch agreements with the following companies as it seeks to build out its constellation of 3,236 satellites.

I couldn’t help but notice that Bezos’ own Blue Origin — which has yet to reach orbit — received the fewest orders of the three launch companies.

DEMOCRAT SENATOR EXPLOITS SACRAMENTO SHOOTING TO PUSH ABSURD GUN CONTROL ARGUMENTS: “In the statement included with the tweet, Feinstein acknowledged that there’s a lot we still don’t know. The investigation, as of this writing, is still ongoing. That lack of knowledge, however, doesn’t dissuade the long-time senator from calling for universal background checks, magazine restrictions, assault weapon bans, and a ban on so-called ghost guns. Almost all of which already exist in California… as Feinstein should be well aware. I mean, she represents the state—and has since 1992!”