Posted on 11/14/2022 9:17:06 AM PST by EBH
Jeff Bezos has warned a US recession is looming, and advised consumers and businesses to stockpile cash in case there's a devastating downturn.
"The economy does not look great right now," Amazon's billionaire founder and executive chairman told CNN on Saturday.
"Things are slowing down, you're seeing layoffs in many, many sectors of the economy," he continued. "The probabilities say if we're not in a recession right now, we're likely to be in one very soon."
Bezos recommended American households delay big-ticket purchases such as new TVs, refrigerators, and cars, given the risk that economic conditions worsen. Similarly, he suggested small-business owners consider holding off on investments in new equipment, and build their cash reserves instead.
The e-commerce pioneer declined to estimate how long the recession could last, but he urged people to be ready for an economic disaster.
(Excerpt) Read more at msn.com ...
Pretty much what I was implying. The MSM will never blame the current administration’s policies for any “reported” recession.
Think about that. A layoff that large from a company that should be running a major profit at holiday time?
He is just cutting the fat to keep $$ in the bank.
Yet so many remain oblivious and are convinced real estate and cars are goign t o continue to appreciate in value.
The new economic word after the mid terms is: Layoffs
All the large companies are announcing layoffs over the next few months
Ever here of a melt-up?
2023 is going to be an ugly year in many ways. I hate to say that.
The trouble with people is that they are people.
“prepare for the worst...”
Disco?...
—
The Bee Gees *and* high inflation. Yikes.
I agree with your take above.
We have weathered recessions before, but we have NEVER entered a recession as a nation with the systemic problems we now face in our economy.
The FED is tapped out. Due to inflation, we cannot pump money any more.
Due to federal debt an increased amount of our “budget” (for lack of a better term) will be applied to interest on our existing debt even as we accrue more. Uncle Sugar cannot turn off the spigot.
Consumer debt is rising faster than any time in our history and people are using credit to pay basic bills due to inflation. It is exploding.
Layoffs are starting and more are on the horizon. Employment lags (as always) with the economic downturn.
Older people are losing a large amount of their retirement funds and pensions will be at risk as well.
Small business is still reeling from our Covid policies and we are seeing record numbers of small businesses failing to pay bills. This downward spiral is barely noticed, but it is very real.
Supply chain disruption continues to spike the economy with import disruptions leading the way.
Many economies around the world are in even worse shape than we are if you can believe it and our central banks will face pressure to bail them out too.
Our own government is continuing the war on energy even as we spend borrowed money on “green energy” projects that are not capable of meeting our needs. Energy is the lifeblood of our economy.
Bezos is right about this and there will NOT be a soft landing for this.
We are facing something completely different from prior versions of “recession” that often involved a major correction within one sector of the economy that sent ripples throughout.
Every sector of our economy is in jeopardy right now and there is no historical precedent for something potentially this big.
You can feel it in your bones. Powerful people want a “Great Reset” and it may be closer than we think.
It is interesting to note that Bezos doesn’t run Amazon anymore.
I doubt he would be saying, “Don’t buy stuff” if he were still the guy in charge.
That reminds me...I have to cancel my Prime membership.
I’ve been concerned about all the spending and what it will mean for your average Joe since GW was prez.
You are wise.
I’m not preparing for a “looming recession”. Those come and go. But the combination of double-digit inflation and a disastrous fiscal policy has me locking things down.
I expect more checks will be mailed Willy Nilly by the Feds next year. Gasoline on a fire.
He’s losing his Covid bump so he thinks the sky is falling.
><><
He’s laying off 10,000 this week so i guess their sky is falling. That shouldn’t be happening right before the holidays.
Tools, equipment, knives, necessary appliances, batteries, things you use in your life. Guns and ammo (not because you’re going to go out and fight anyone but because if it all goes totally south they can help keep you alive). The true necessities of maintaining life. These will be way more useful than cash in a bank.
Never mind, I know. He voted for this, knowing that this is what he was voting for.
Look for a MAJOR realignment in “retirement funds” next year.
Dems are right where they want to be, got not only the white hut, but house and senate as well. Anything their little hearts desire is now within reach. Very soon the goberment will roll ALL the 401-K, and all the specialty accounts into the federal treasury.
They have talked about doing this before, but timing was never right, things have no changed.
But, not to worry, you will still “own” those accounts, sort of. You will be given a receipt for them and the gov’t will be managing them for you.
I've noticed that talk of us not having enough to eat has subsided.
(That's some good news.)
“ The Bee Gees *and* high inflation. Yikes.”
We’ve had exactly that before. It’s always something different.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.