lets just say i wanted to be more positive but there was alas nothing to be positive about really i am talking about my interview thursday evening with raj subramaniam the new ceo of fedex fdx who literally gave me no reason whatsoever to have any hope about avoiding a worldwide recession in fact i asked raj if that was going to happen and he said i think so first let me say it took a lot of guts for him to come on after the company reported a terrible quarter withdrew forward guidance and announced costcutting measures thats a positive i guess second the stock was plunging so fast down more than 16 in after hours that it might settlein in a couple of days as i said at the top of mad money most of our problems are manmade if china were to use moderna s mrna vaccine and if russian president vladimir putin would simply realize he cant win in ukraine then we wont care one whit what raj had to say but i have been saying those positives could occur for months now and they simply may not be relied upon as the people who run these two countries china and russia are responsive to no one but themselves what jarred me so much thursday evening was that i have such respect for fedex that i kept thinking the ceo would say something positive twice i asked him just to tell me something good and he had nothing good to say things had gotten worse pretty much week after week since the end of the june analyst meeting shocking in itself he did say he would continue the companys buyback but i actually am not so sure thats a good idea because the holiday season is coming up and he needs to keep a competitive edge but what will be most worrisome for people is the notion of the us clearly now headed downhill you literally have to hope that federal reserve chairman jerome powell watched my interview the only one raj gave because i can see that we can easily now import from china and europe some pretty negative scenarios the market i think on friday will be down hard off this one companys negativity because it touches every tentacle i am sure people will sell club holding amazon amzn for example even as amazon doesnt even do business with fedex everything tech will be obliterated again because of china the one thing i will stick behind though is what i said at thursdays monthly meeting for club members with our portfolio with the exception of a handful of tech stocks we are not set up for an economic boom we are headed for an economic slowdown when we are down friday i will scrutinize all of the stocks we talked about but pay close attention to the ones that have little economic sensitivity those are the ones that will bottom first short of a statement from carole tome ceo of united parcel service ups saying that raj is on planet mars and shes taking all of his business the stocks that have to do with an acceleration of commerce betting on the end of tightening cant bottom unless or until the fed says that we have to wait and see now after this hike at next weeks september meeting the debate is over 100 basis points or 75 basis points otherwise they are going lower not a lot lower but definitely lower still jim cramers charitable trust is long amzn see here for a full list of the stocks as a subscriber to the cnbc investing club with jim cramer you will receive a trade alert before jim makes a trade jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trusts portfolio if jim has talked about a stock on cnbc tv he waits 72 hours after issuing the trade alert before executing the trade the above investing club information is subject to our terms and conditions and privacy policy  together with our disclaimer  no fiduciary obligation or duty exists or is created by virtue of your receipt of any information provided in connection with the investing club no specific outcome or profit is guaranteed