Posted on 10/02/2022 1:44:32 PM PDT by MtnClimber
Billionaire investor Stanley Druckenmiller said he would be shocked if there is not a recession in 2023 and predicted a hard landing at CNBC’s Delivering Alpha Investor Summit in New York City Wednesday. According to CNBC, Druckenmiller said he believes the Federal Reserve’s attempt to quickly unwind the excesses it helped build up for a decade with easy monetary policy will not end well for the U.S. economy.
"So our central case is a hard landing by the end of '23," Druckenmiller told CNBC host Joe Kernen. "But I don't know, I've been wrong on a lot of things. I could be wrong on this, but since I do it for a living, that's our forecast, which is a recession in '23."
"I will be stunned if we don't have a recession in '23," he said. "Don't know the timing, but certainly by the end of '23. I will not be surprised if it's not larger than the so-called average garden variety, and I don't rule out -- not my forecast, but I don't rule out something really bad. Why? Because, if you look at the liquidity situation that has driven this, we're going to go from all this QE to QT, we're following an asset bubble."
Video at link, transcript at post #1:
(Excerpt) Read more at realclearpolitics.com ...
Unfortunately, I think you are absolutely correct. We have an economy based on race and equity. Capability and experience do not matter anymore due to PC upper management in major corporations. The ability to accomplish tasks has largely been lost.
we are already in a recession.
If the democrats win in November we will enter a depression.
Uh we already are in one. But we can’t say that until after the election.
You get it.
Don’t worry about the current recession (Yes, we are actually in a recession despite what the Biden administration and media tell you). It will be short-lived. Instead, worry about the depression that follows. I suspect THAT will last for at least a decade and will be a life-changer for our nation.
Of course, no one will admit that we are in a recession until the GOP takes over Congress next month. THEN, the stories will start of the high prices, homelessness, high crime, inflation, and the fact that we are in a recession.
It will be blamed on a “GOP do-nothing Congress” who thwarts the will of the Democrat president. The WaPo and NYTs are dusting off their old stories (those only used during certain political times) even as we speak (type) to get ready for that possibility.
We are already in a recession. Dont let the left change definitions of their failures. By agreeing to their lies, it puts you on the defensive.
I too use the old school method but I often joke that I am waiting for a deeper one before buying new stocks or especially farmland.
I don’t ever want to live in a city again. My chasing single beer and cellar temperature women are long past me.
Given long term QT and rising dollar it might be that my best bet for land is outside of the US.
Unthinkably bad times are inevitable.
Here we are, in October, wheat planting time is a month away. Very low rainfall for 2022. The moisture to plant is not there right now.
Wheat prices are incredibly high. It is a global crop, weather is cyclical (not man made). Cattle prices are down somewhat, pastures are in poor conditions in general.
I'm putting finishing touches on remodel of my house at the farm. It is 75 years old, my grand parents built it in 1946. Some of our land has been in the family in this county since 1889. Most of it is rented to a cousin. We intend to keep it. I'm 74. My father died in March of 2021 at 94. My brother died a few weeks ago.
You may be correct, but I think Texas will go on. DC ("District of Corruption")? Who knows?
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