Week in Review: 7/31/22

The summer's blockbuster week - Apple, Amazon, & Microsoft climbed, while Meta posted their first-ever decline in revenue as a public company. Markets rallied, despite another GDP miss. Let's discuss.

Something feels off…

Despite the historical definition that has always been followed by economists (and many of us learned on day one of macroeconomics class) — the White House and some media outlets refuse to say we’re in a recession.

We’re not here to tell you what to think, but the -0.9% GDP shrinkage this week puts us officially in a recession — acco…