By any standard measure of prosperity -- Growth in gross domestic product, jobs created, expanding home equity levels and the strengthening dollar -- Team Biden administration has outperformed six of its last seven predecessors. https://www.bloomberg.com/opinion/articles/2022-11-08/midterm-elections-joe-biden-s-economy-is-second-only-to-one

As recession fears rise, earnings estimates fall. If the 2.9x pace of cuts continues through year-end, the S&P 500 could see “no EPS growth next year” as 2023 consensus would fall to around $220, the strategists warned. Note: these are just projections; reality could be quite different.

Current mood.

Why yes, I am a financial wizard. Why do you ask?

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the auto industry already seems to be in recession. Auto manufactures raised prices on cars, thinking Americans could absorb it, but combined with higher interest rates, buyers are balking.

As America heads to the polls, inflation seems to be topmost on peoples' minds. I think the fact that this could be America's last free and fair election should be more important, but that's just me.

The economy is massively strong. People don’t need as many second jobs

GDP growth under Biden has been more than 3 times what it was under Trump.

To be sure, not all parts of the economy are doing well. Oil & Gas is doing very well, driven by high prices. But look at the rise in layoffs in the tech industry. I'm thinking reporters know a lot more people in tech than they do in oil and gas, which could be one reason for the relentlessly negative MSM takes on the economy.

Despite all the doom-calling on the economy, The Atlanta Fed says its current estimate for 4Q22 GDP is +3.6% (q/q ann.). Strength is being driven by consumer spending (contribution is +2.7%)

More and more homes are being bought with cash. But how many Americans have the cash they need to buy a house?

Why the markets are rallying so hard today: Boston Fed President Susan Collins suggests she is ready to slow the pace of Fed rate increases from here.

Fifty basis points used to be a large move, she says. She adds it's too soon to say how high rates will need to go.

This shows that the #stock market moves on ANTICIPATION of Fed hikes or cuts, more than any other driver.

And yet, the mainstream media doesn't talk about it much. Hmm ... https://www.marketwatch.com/story/yes-some-republican-senators-are-talking-openly-about-social-security-cuts-11667576391

#Economy is stronger than expected: Nonfarm payrolls increased 261,000 last month following an upwardly revised 315,000 gain in September, a Labor Department report showed Friday.

You know what they say, "Get woke, go broke." Oh, what's that? Elon did exactly the opposite, and is losing money anyway? Never mind.

Next, gigafactory projects by region. This is very bullish for #lithium demand. North America is still very behind ... for now.

Let me start a series of posts on lithium and electric vehicles. This chart shows the forecast on global EV sales through 2030. Sources: S&P Global Commodity Insights, S&P Global Market Intelligence,