Hi bb. Equinox x Cheres welcome summer with the steamiest partnership 🥵 Join us as we sweat it out in the Financial District 💦 Recession? The strip clubs say yes, the financial firms say no…🍑

In other news… Snap brings down the social media house with its' worst day ever 📉 Elon is - just kidding - no one cares 💀 Balenciaga & Adidas pull a Cheres at NYSE fashion show 🚶🏿‍♀️NFT NYC week? Sure, I'll be there. 💁🏾‍♂️

Y’all remember econ 101 🤓? Stagflation, the not-so-ideal slow growth/high inflation combo, is definitely a thing. But does that mean we’re heading towards a recession? Apparently, no.

Shane Oliver, the chief economist at AMP Capital, notes that big-brain 🧠 market fundamentals don’t point towards a recession. Yield curves and the delta between short-term rates and long-term bond yields are still normal. These indicators signal changes in interest rates and the greater economy; when short-term yields are higher than those from long-term bonds, that usually signals an incoming recession. If these indicators were to change, we’d still have ~18 months in lead time to prep for a recession 🎒.

Unemployment is also at the lowest in decades globally. That’s a good sign that people will still spend money on goods — a key part of a healthy economy 🍎.Central banks are also taking a stance and upping interest around the world, which should bring down inflation more. Key word: Should 😵‍💫. Sometimes upping interest rates along with existing high prices can slow down growth even more because… well, because people don’t want to spend a lot of money on things that shouldn’t cost as much as they do. Just look up “the Volcker Shock” to get a real-world example of how interest hikes backfired in the 80’s.

Basically, we can assume a recession isn’t coming for at least the next year or so, and maybe never if we play our cards right against poker champ stagflation 🃏.

Keep reading Quick Bites for a different point of view.

Community Events

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• Equinox x Cheres 💦 June 8th, 5PM (IRL Event): Financial ~ wellness ~ We're bringing you the 🔥 partnership. Connecting physical, mental and financial wellness next week 🍑 Sign up and get a free Equinox day pass (refreshments included). Learn more about how to pay your membership with crypto, take advantage of a $0 initiation fee and get $150 off when you sign up with a friend. RSVP here

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Quick News Bites

“I'm a stripper - we can read the markets better than bankers”

If you've ever seen Hustlers with JLO, you'll already know that the people to really trust when it comes to the markets, are those on the ground…While adult entertainers know their way around poles, they also know their way around the economy. 📉

So while our main story features the finance firms' POV around the recession, let's give everyone a voice, shall we? A stripper by the Twitter username of @botticellibimbo has claimed she can read markets better than bankers and set out why she thinks we’re heading for a recession. 😳

She referenced the 2001 Enron Corp scandal reminiscing on the connection between finance bros and the clubs. 🧑‍🏫 ["As strippers] we always have to be aware of fluctuations in the market and how upper class white men are behaving and spending their money. Ask ANY stripper we have to be aware of how rich people are going to spend their money." The wildly viral post references club revenue with market conditions, and it seems like things ain't looking too hot. 🥲

As JLO would say “get in my fur". ♥️ Here for you, bb.

Read more

Snap brings social media down with it

Snap shares closed down 43% on Tuesday, marking its worst day ever, while bringing down social media and digital ad company stocks with it. 🤦🏼‍♂️ The Gen Z fave issued a warning on Monday saying it won’t meet its own targets for revenue in Q2.🌩“Since we issued guidance on April 21, 2022, the macroeconomic environment has deteriorated further and faster than anticipated,” Snap Inc. said in an SEC filing. According to CNBC, “Snap’s shares are down about 84% from a 52-week high in September 2021 and are off more than 72% year to date”. ❗️

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