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Recession is ‘likely,’ former SEC chief economist says. Here’s his advice for how to prepare
cnbc via msn ^ | 5/20/2021

Posted on 05/20/2022 11:25:49 AM PDT by RomanSoldier19

It's very hard to stop inflation without a recession," says Larry Harris, former chief economist of the SEC. While the impact may be felt broadly, every household will experience it to varying degrees. Still, there is advice that is universal.

By nearly every measure, the U.S. economy made a stunning recovery after the coronavirus pandemic spurred mass shutdowns and layoffs nationwide.

The labor market has added back millions of jobs and wages have gone up substantially, even among lower-paying positions.

But soaring inflation and rapidly rising interest rates have most Americans worried that the good times will be short lived.

"Are we going to have a recession? It's pretty likely," said Larry Harris, the Fred V. Keenan Chair in Finance at the University of Southern California Marshall School of Business and former chief economist of the SEC.

"It's very hard to stop inflation without a recession."

(Excerpt) Read more at msn.com ...


TOPICS: News/Current Events
KEYWORDS: depression; recession
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1 posted on 05/20/2022 11:25:49 AM PDT by RomanSoldier19
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To: RomanSoldier19

“It’s very hard to stop inflation without a recession.”

Liar.


2 posted on 05/20/2022 11:26:49 AM PDT by Seruzawa ("The Political left is the Garden of Eden of incompetence" - Marx the Smarter (Groucho))
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To: RomanSoldier19
most Americans worried that the good times will be short lived.

Wait! These are the good times?

3 posted on 05/20/2022 11:27:03 AM PDT by Sirius Lee (They intend to murder us. Prep if you want to live and live like you are prepping for eternal life)
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To: RomanSoldier19

By nearly every measure, the U.S. economy made a stunning recovery after the coronavirus pandemic spurred mass shutdowns and layoffs nationwide.

The labor market has added back millions of jobs and wages have gone up substantially, even among lower-paying positions.

But soaring inflation and rapidly rising interest rates have most Americans worried that the good times will be short lived.

These are the good times???
What planet do these people live on?


4 posted on 05/20/2022 11:28:51 AM PDT by tet68 ( " We would not die in that man's company, that fears his fellowship to die with us...." Henry V.)
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To: Taxman

Ping


5 posted on 05/20/2022 11:35:22 AM PDT by Taxman (SAVE AMERICA!)
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To: RomanSoldier19
The labor market has added back millions of jobs

And there are Help Wanted signs Everywhere, especially in businesses and industries that NEVER had them before. The work ethic has been destroyed by generous Welfare and Unemployment benefits. Why go to work when Uncle Sugar will pay you to sit on your fat ass to hit the pipe, sip your 40 0z and jack off to video games all day. But Hey, Isn't Central Banking with a pure fiat currency great?
6 posted on 05/20/2022 11:36:38 AM PDT by eyeamok (founded in cynicism, wrapped in sarcasm)
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To: tet68

“These are the good times???
What planet do these people live on”?

They are out of touch idiots.


7 posted on 05/20/2022 11:37:27 AM PDT by laplata (")
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To: RomanSoldier19

When you attack fossil fuels and nuclear, make fuel and electricity scarce and expensive, economic contraction follows. Agricultural production is severely affected. There will no only be worldwide lower living standards but food shortages and horrible hunger wars are coming. The green lunatics will neither starve no be held accountable.


8 posted on 05/20/2022 11:39:32 AM PDT by allendale
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To: Sirius Lee
Wait! These are the good times?

What, you haven't enjoyed the past two years?

9 posted on 05/20/2022 11:41:03 AM PDT by 1Old Pro
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To: Sirius Lee

hold on to your hat

we aint seen nuttin’ yet


10 posted on 05/20/2022 11:44:48 AM PDT by joshua c (Dump the LEFT. Cable tv, Big tech, national name brands)
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To: Sirius Lee

lol..that struck me as well.

What planet does this idiot live on.


11 posted on 05/20/2022 11:48:38 AM PDT by AAABEST ( NY/DC/LA media/political/military industrial complex DELENDA EST)
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To: eyeamok

Your post is correct, but the retirement of baby boomers is another large factor.


12 posted on 05/20/2022 11:50:37 AM PDT by cgbg (A kleptocracy--if they can keep it. Think of it as the Cantillon Effect in action.)
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To: cgbg

And I am intending to contribute to the problem by QUITTING and taking an early retirement. FU%K All these lazy welfare and unemployment cases, I hope they Starve and Die in the Street, my only Moral Obligation to society at this point is to help load the dead bodies into the trucks to go to the dump, so they don’t stink up the neighborhood.


13 posted on 05/20/2022 11:53:53 AM PDT by eyeamok (founded in cynicism, wrapped in sarcasm)
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To: AAABEST

If they believe men can have babies, then they probbably believe we are in good times.


14 posted on 05/20/2022 12:12:28 PM PDT by Mister Tee (The liberals "hail mary"...coronavirus)
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To: eyeamok

And I am intending to contribute to the problem by QUITTING and taking an early retirement. FU%K All these lazy welfare and unemployment cases, I hope they Starve and Die in the Street, my only Moral Obligation to society at this point is to help load the dead bodies into the trucks to go to the dump, so they don’t stink up the neighborhood.
.............................................
Easy there fella: High blood pressure can be dangerous. I’ll help you load the trucks.


15 posted on 05/20/2022 12:19:15 PM PDT by fortes fortuna juvat (Democrat politicians and voters are dangerously psychotic, and they confirm that everyday.)
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To: RomanSoldier19
In the 70's the voter didn't have 401K plan statements arriving every month. The rage is coming. It just hasn't set in yet. On the flip side in the 70's and early 80's cash in money market funds was yielding 14%.

Man is it gonna get mean and without woke rules.

16 posted on 05/20/2022 12:29:55 PM PDT by blackdog (Cooler King Joe, killing a winning nation every day. )
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To: Sirius Lee

compared to what is coming


17 posted on 05/20/2022 12:30:51 PM PDT by RomanSoldier19 (Res ad Triarios venit; )
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To: Mister Tee
"they believe men can have babies, then they probbably believe we are in good times."

Post of the day nomination.

18 posted on 05/20/2022 12:31:30 PM PDT by blackdog (Cooler King Joe, killing a winning nation every day. )
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To: eyeamok

Come on man, buzzards gotta eat to.


19 posted on 05/20/2022 12:52:22 PM PDT by LastDayz (A blunt and brazen Texan. I will not be assimilated.)
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To: RomanSoldier19
Recession is ‘likely,’ former SEC chief economist says. Here’s his advice for how to prepare

1. Sell at least one of your yachts - the savings in demurrage, alone, will amaze you!

2. Expatriate the proceeds to Switzerland, where you already have several hundred million tucked away.

3. Divest yourself of all your holdings in North America.

4. Etc.

All very wise and actionable items of advice, no?

Regards,

20 posted on 05/20/2022 1:02:16 PM PDT by alexander_busek (Extraordinary claims require extraordinary evidence.)
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