These people are not serious.
FedEx stock tanked after hours last Thursday after the company released a revised outlook for the year.
FedEx stock dropped 17% in the extended session Thursday. The stock sank as much as 20% before trading on Friday.
FedEx says it is only going to get worse and its outlook for 2023 is bleak.
But it is not just FedEx that sees the warning signs.
Both the Atlanta Fed and the Blue Chip Consensus have taken deep dives in the past week or so.
A Biden economic advisor was asked about FedEx confirming that we’re already in a recession and she blamed climate change.
Joe Biden and the Democrats have spent trillions of dollars in the last year-and-a-half and waged a war on domestic energy production but climate change is to blame for the recession.
“We’re all coming out globally of a global pandemic, on top of that this war in the Ukraine that has upended global energy markets, these are very challenging times,” Heather Boushey, Biden’s Council of Economic Advisors said.
She continued, “Then you add to it, disasters, like what just happened in Puerto Rico where they had no electricity because of a storm. These kinds of climate challenges also are in front of us…”
Heather Boushey also said American households are currently in a “fairly good situation” heading into a recession.
Wages are down and inflation is at 40-year highs.
Asked about FedEx confirming that we’re already in a recession, the Biden Admin’s @HBoushey says it’s not their fault, citing Covid, Ukraine, & Puerto Rico losing electricity because of “climate change” pic.twitter.com/e0oCW3YRpJ
— Tom Elliott (@tomselliott) September 19, 2022