spotting fake news

I know I blog about economic matters that may affect my IRA or 401(k) hobbies, but today, I have to comment upon an article that suggests a RECESSION is lurking.

I happen to be employed by the company in question. For those who do not follow FedEx Express news daily, the article would read with foreboding for the U.S. economy, given its title about recession, but FedEx has had almost a yearlong financial problem outside of normal economic circumstances. All you need to do is look at the price spread of its stock in the last year. It was over $260 last year then dipped to just above $150 in a 6 month period. It's currently hovering around $190 and has been gaining ground after cutting bonuses and such...

Did anyone say a recession was looming when its stock bottomed out? This article came about a month after FedEx honchos said the profit projections were way off.

Projects for FedEx Express were based upon the acquisition of TNT with an eye on the latter's reach in European markets. Problems with TNT emerged last year when it was discovered issues with TNT beyond the WannaCry Virus.

I said back in January any talk about recession would be a dog whistle attack against the sitting president. I said it was probably being made because the Russia Collusion probe was quietly running its course (and  probably would be an empty vault scenario for those gunning for Trump's scalp).

I'm still eyeing gold as an economic canary. Gold is dropping today. It has had an interesting 6 months as well. I would sooner buy FedEx Express stock than any Gold related.