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RE: no biggy...

It affects the whole world to one extent or another.Lifted from Jim Cramer's intro presentation on CNBC last evening:

There "is a huge schedule of things. ...- I've only listed the most obvious seven. If Powell can slay these seven dragons, then making money in the stock market will come easy again. Until then, though, expect more horrific days like today. No gain without pain, and this time there's a lot of it," he later added.

Here is the list:

Housing: "I think mortgage rates must go to 7% or 8% before it's just too expensive and new homes start coming down in price. ...- Powell has a lot of wood to chop to get rates that high, but he must do so," Cramer said.
Autos: "Powell has to choke demand for cars and the best way to do that is to raise interest rates. ...- We need a glut of cars to solve this intractable problem. Then the semiconductor makers can catch their breaths," Cramer said.
Labor: "The more companies that decide they can't afford to hire people here, the less we need to worry about a wage-price spiral," he said.
Russia's invasion of Ukraine: Cramer said that while Powell does not have control over its outcome or duration, the war is causing commodities prices, including oil and grains, to skyrocket.
High freight costs: Either a slowdown in commerce or an increase in the number of drivers will help on this front, Cramer said.
Airfares: Plane tickets need to get so expensive that people travel less and in turn spend less, he said.
Consumer savings glut: People need to spend their pandemic savings so that they are motivated to go back to work, according to the host.


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