Banking Giants Warn of 2024 Devastation
Americans' Excess Savings Mostly Spent by Oct
As consumers run out of cash, the economy is likely to sputter its way into hard economic times, according to a major bank’s leading economist.In predicting a 100 percent chance of a recession, David Folkerts-Landau, Deutsche Bank’s chief economist, wrote, “The U.S. is heading for its first genuine policy-led boom-bust cycle in at least four decades,” USA Today reported Thursday.
“The inflation we see was induced largely by expansive fiscal and monetary policy, and the aggressive rate hikes needed to tame that have now materialized. Avoiding a hard landing would be historically unprecedented,” he wrote.
Darrel Cronk, president of Wells Fargo Investment Institute, said that “recession is at our doorstep,” Fortune reported Friday. “Much of the manufacturing sector of the economy is already in recessionary territory,” Cronk said.
Read about it... Joe Biden is totally responsible for the mess in our country.
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