Posted on 09/24/2018 7:50:02 AM PDT by EdnaMode
Ten years ago, it was too-easy credit that brought financial markets to their knees. Today, it could be a global debt of $247 trillion that causes the next crash.
After a decade of escalating US household debt brought on by low wages and the national debt more than doubling over the same time frame, to $21 trillion, debt could soon put the brakes on this economic recovery, analysts warn.
“We think the major economies are on the cusp of this turning into the worst recession we have seen in 10 years,” said Murray Gunn, head of global research at Elliott Wave International.
And in a note, he added: “Should the [US] economy start to shrink, and our analysis suggests that it will, the high nominal levels of debt will instantly become a very big issue.”
[snip]
“We won’t be able to call it a recession, it’s going to be worse than the Great Depression,” said economic commentator Peter Schiff, forecasting a major economic downturn as early as the tail end of the Trump presidency’s first term. “The US economy is in so much worse shape than it was a decade ago.”
(Excerpt) Read more at nypost.com ...
There are no experts in this country.
I think they have predicted 17 of the last five recessions.
There is always a chance for a downturn. Don't over leverage. Hate debt.
They have no idea what they are talking about. They don’t deserve their high salaries.
They want this to happen because they hate Trump.
I would suggest that people go back and review the 1920 to 1929 era...using the book ‘The Forgotten Man’ by Amity Shlaes.
A source of info on the period, and it will explain the various details that historians tend to avoid discussing.
It would be impossible to worse than the 1929 era depression because of the incompetence of the fed in this era. Add to it....the President would have to go and hire only idiot economic experts (as FDR did) to achieve the remarkable Great Depression.
Peter Schiff has been crying wolf for years.
Are these the same ‘experts’ that said if Trump is elected the economy would go belly-up?................
Talk about lack of judgement.
If you walk around with a sign that reads: The World Will End Tomorrow!, eventually you will be right.................
Cheap real estate....................
I was only able to make second assistant head of local research at Elliott Wave International. But I didn't have a cool name like Murray Gunn.
What the hell is Elliott Wave International?
It’s cheap for a reason.
Is Peter related to Adam?
““The US economy is in so much worse shape than it was a decade ago.””
That is all one needs to read in this “article”.
ha ha ha
That’s great news.
This was my favorite part.
He’s a wealthy industrialist!
May have been part of Kramerica Industries.
They have a bladder system!
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