Stuart Varney: Recession seems inevitable
FOX Business host Stuart Varney argues the U.S. is witnessing ‘wealth destruction on a massive scale.’
During his latest "My Take," "Varney & Co." host Stuart Varney discusses the "financial storm" gathering steam and barreling towards Americans' wallets, arguing a "recession seems inevitable," as well as a "Democrat wipe-out" in the midterms.
STUART VARNEY: This is another financial storm, and it seems to be gathering steam. That’s what makes people so anxious: where does it end?
Crypto investors are the most nervous of all, because they're experiencing a genuine crash.
That’s a strong word and should be used carefully, but when Bitcoin loses one third of its value in a weekend, it’s a crash.
Nearly $2 trillion lost.
Some of the youngsters who piled into crypto with their stimulus money, have lost their shirts.
POWELL SAYS FED COULD HIKE INTEREST RATES BY ANOTHER 75-BASIS POINTS IN JULY
It’s certainly a storm for stock investors.
Roughly $10 trillion wiped out. Your 401(k), if you really want to look at it, is down sharply. When you see your pension money disappearing, you get nervous, and you probably get angry.