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Tell that to Biden! CEO of luxury furniture
retailer RH says anyone who thinks US
isn't in recession is 'CRAZY' as household
net worth plunges by record $6.1 trillion
in a quarter

Original Article

Posted By: Imright, 9/10/2022 4:05:50 PM

The CEO of a luxury furniture retailer has claimed it is 'crazy' to think the US economy is not in recession, as household wealth fell by a record $6.1 trillion in the second quarter. 'I don't know, people keep saying, are we going to be in a recession? We're in a recession,' said Gary Friedman, the chief executive of RH, formerly known as Restoration Hardware, in an investor call on Thursday. 'Anybody who thinks we're not in a recession is crazy. The housing market is in a recession, and it's just getting started. So it's probably going to be a difficult 12 to 18 months in our industry,' he said.

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Reply 1 - Posted by: itsonlyme 9/10/2022 4:20:06 PM (No. 1273957)
Joe "Dementia" Biden September 09, 2022 "President Joe Biden is slated to spend the weekend at his home near Greenville after a trip to Ohio earlier on Friday." Jill, tell him many people are hurting. Do not get his bicycle out.
8 people like this.

Reply 2 - Posted by: bpl40 9/10/2022 4:51:56 PM (No. 1273975)
Anyone who thinks Joe won 81 million votes legally is crazier!
18 people like this.

Reply 3 - Posted by: LC Chihuahua 9/10/2022 4:55:43 PM (No. 1273978)
Anyone who says we are not in a recession is not hurting enough to feel it. That could be some person that has more money than they know what to do with. That could also be some moocher that has everyone else pay their bills.
15 people like this.

Reply 4 - Posted by: SweetPea3 9/10/2022 6:35:44 PM (No. 1274026)
Gary Fri3dman had better watch his mouth....and back.
4 people like this.

Reply 5 - Posted by: GoodDeal 9/10/2022 6:37:30 PM (No. 1274028)
Higher and higher costs of living storages misery and mounting family debt is the new normal. Welcome to the world democrats have made for America. Had enough yet?
6 people like this.

Reply 6 - Posted by: Ribicon 9/10/2022 7:16:24 PM (No. 1274040)
To each according to his needs (millions of third world "migrants" imported by the US government, along with our traditional welfare consumers), and from each according to his abilities (the wealth of the despised middle class destroyed through taxation and inflation, because others can't be bothered to work and save and invest, and that's not equitable). The New American ethos, and there's no one willing to stop it.
4 people like this.

Reply 7 - Posted by: coyote 9/10/2022 8:17:31 PM (No. 1274090)
With the stock market drop plus inflation, some retirement savings have lost at third or more of their value.
3 people like this.

Reply 8 - Posted by: anniebc 9/10/2022 10:17:07 PM (No. 1274169)
RH is definitely high end, so it's surprising that the CEO is not woke. Telling.
3 people like this.

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