Posted on 05/21/2024 7:12:26 AM PDT by fwdude
Get ready for a recession that hammers consumers, squeezes companies, and drags down stocks, a veteran economist warned.
"There is a very high probability of a recession," Nancy Lazar, Piper Sandler's chief global economist, told WealthTrack in a recent interview.
Lazar, a cofounder of Cornerstone Macro and ISI, cited the delayed impacts of the Federal Reserve's interest-rate rises and credit drying up as two likely drivers of a downturn.
"We just think this is a very risky economic environment," she said. "When banks are tightening lending standards, and you clearly have higher interest rates, you've never had a soft landing. You've always had a hard landing."
(Excerpt) Read more at msn.com ...
They didnt list the 19 states, at least as far as I could see.
Don’t worry about the economy, everything is just fine, we won’t run out of money, they will gleefully print more as we need it...
> They didnt list the 19 states, at least as far as I could see. <
Just a guess: Maybe they’re all run by Democrat governors. After all, can’t make the Biden Buddies look bad.
Obama loves a good recession.
the biden crowd, democrats and rinos have been working feverishly to destroy America’s economy. America’s economy is resilient and perhaps all that is necessary is to remove biden, democrats and rinos from power and Americans will repair the economy. My faith lays with the American People.
A couple months back we heard that Credit Card Debt was at all time highs.
In the last month both Discover Card and Capital One reported that their default rate jumped from 3% or less to 5.7-5.9% respectively. Similar to what happened in 2008.
Now, we are starting to see an increase in mortgage defaults from first time home buyers and FHA loans.
So, these are all signs that people are getting overextended.
The people that are stretched thin are to the point that they can not pay their bills.
The next thing will be people stop going out to eat. That they start separating WANTS from NEEDS. Our GDP is roughly 63% based on Consumer Spending. When the consumer stops spending on things they can’t really afford then we will be in a recession.
In January 2025, as trump administration begins, the media will begin seeing how awful the economy is. By June, they will announce deep recession. Heck by December, they might even say depression. All trump’s fault of course.
https://www.newsweek.com/tens-thousands-more-quit-their-jobs-new-york-state-1902111
Bet NYS is one of them...
Replacing makers with takers doesn’t work for long.
Recessions are normal and necessary in a market economy.
You really thing they will wait to January?
IF Trump wins, the MSM will start telling everyone how bad it is the day after the election(if we know by then).
I remember watching ABC News with Peter Jennings the day after Clinton was elected beating Bush Sr. He gleefully pointed out that the new economic indicators were looking much better. That we were coming out of the recession we had been in. Based on my business, I had known this for months. So did they. They just chose not to report it because they wanted to effect the election.
“Replacing makers with takers doesn’t work for long”
Nice way of putting it.
States that suffer because of their own bad decisions don’t deserve to be bailed out by the rest of us (our Federal Government).
I see some cooling down in restaurants but not a lot? It seems spotty, some places are still attended but not crowded. Others are just mostly empty. Fast food has to eventually suffer, it is over priced. 15 or 16 bucks for McDonalds? 20 bucks for two sandwiches at chick fil a? 17 bucks for a snack at taco bell? 13 bucks for three chicken strips, a drink, a side and a biscuit at Popeye’s? Can’t see it6+-
As an aside, the market is apparently pleased with the economy and continues to rise based on earnings.
Something doesn’t jive
bkmk
I just took a road trip from Florida to Nags Head. From the amount af cars and trucks on the road the economy in the SE is OK. Lots of road construction.
“As an aside, the market is apparently pleased with the economy and continues to rise based on earnings.
Something doesn’t jive”
If you have money to put to work you can do fine. If all you have is your body to put to work you are screwed under the current system. Stocks often do well in recessions due to expected lower interest rates helping with private/public debt service. Investors buy based on expected conditions 6-9 months in the future. Stocks tend to do well during recessions. Wage earners don’t.
Yes they are. Except this is a natural economy that is allowed to ebb and flow based on market dynamics. This a by-product of manipulation and experimentation.
If we have a recession places like Calif. which is already facing a 50 billion dollar deficit will really be in for it.
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.
