Posted on 06/16/2023 2:06:53 PM PDT by Old West Conservative
Deutsche Bank’s top minds put U.S. recession chance near 100%—and say avoiding a hard landing would be ‘historically unprecedented’
Output is expected to contract as early as October and continue shrinking during the all-important election year, making it the worst performing economy among G7 nations in 2024.
It appears as if U.S. economists may have popped the Champagne corks on a soft landing too early—at least according to Deutsche Bank.
The German multinational bank’s top research team believes Washington has sparked a boom-bust cycle that now is nearing its end stage. In its house view, the recession slated to arrive as soon as October is the inevitable consequence of a series of aggressive rate hikes designed to extinguish the very flames of inflation that policymakers ignited through their own actions during the COVID pandemic.
“Avoiding a hard landing would be historically unprecedented,” warned group chief economist David Folkerts-Landau in a research report titled The Clock Is Ticking, published on Wednesday.
(Excerpt) Read more at fortune.com ...
That must be the reason for not raising the interest rate...they don’t want “We, the People” to know what’s really going on.
Only a recession you say? 🧐
Last year, Bank of America withdrew their credit card association with the Automobile Club of America. Comenity took it over. Also within the past year, Capital One took over the Williams-Sonoma credit card association from Comenity. And within the past week, I received notice from Comenity, that they are closing all Bed, Bath and Beyond “Welcome Rewards” card accounts on July 30th, 2023. They had just sent out new credit cards to everyone to replace the previous Bed, Bath and Beyond cards. I don’t have that many credit cards, but in less than a year, three of them have either changed hands, or been closed. I’ve never seen this happen in all the years I’ve had credit cards.
Maybe.
Gotta love that wall of worry.
Only if we nominate anyone other than Trump. Of course the House and Senate are also up for grabs, and hopefully Republicans will grab them, whatever happens to the White House.
We’ve been in a Recession for 3+ years; we’re headed toward a Depression, though not on the 1929 scale, but a Recession, nonetheless. And it’ll be a hard landing.
Some ominous signs in my small manufacturing sector in the region. Three companies have initiated a hiring and salary freeze. I have outstanding invoices over 60 days late. And now that Chomo Joe has unleashed his EPA tyrants on the metal mining and production sector I just paid double, AGAIN, for the same order of aluminum I have been buying for a few years now. That is if I can find the grade I need. Let’s go Brandon
SCARY!
If we had some eggs we could have bacon and eggs for breakfast if we had some bacon.
Old saying from the Depression.
The Dems will do one of three things:
Escalate the Ukrainian war so there is no election or they can say Republicans are Russian sellouts
Go to war directly with China for the same purpose
Both
Not gonna happen. The kindly red state legislatures and governors passed the digital currency bill.
Preppers ping. Do it before you have no income.
Zzzzzzz. We’ve been hearing this for a long time. It’s like climate change, not predictable.
Theres a reason Economics is called the dismal science and why economists have successfully predicted 12 of the last 5 recessions.
Agree. The government changes definitions, markers, measures and then says -- "see, it's working."
By the older measures we've been in a serious recession and heading towards....
And, by the way, by longer historical records, the planet does not have a "fever." And by older methods, Covid-19 was the flu. Government is in "full liar mode."
They keep moving the goalposts and lying all along the way. Doesn’t matter who the POTUS is, they do it as SOP.
I think we are headed for an economic earthquake that will make 1929 look like good times.
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