Majority of Americans think nation is headed for recession, economists agree

[SBFNews]

Majority of Americans think nation is headed for recession, economists agree
cbsaustin.com

WASHINGTON (TND) — Eighty-five percent of Americans think the nation is headed for a recession, according to a newly released Quinnipiac poll.

Their pessimism is shared by some experts.

The bigger picture [is] we’re starting to see the tip of the iceberg of a problem, and the problem is a recession,” said Gene Munster, a managing partner at Loup on CNBC.

Stunning numbers from retail giants could be the economy's canary in a coal mine.

Target shares on Wednesday tanked 25%, which is the biggest drop since 1987.

Walmart also has taken the biggest hit in 35 years.

Some believe it's more evidence the country is headed for a serious economic downturn.

The Federal Reserve is working aggressively to prevent a hard landing for the economy.

Meanwhile, Treasury Secretary Janet Yellen, who as recently as October insisted inflation would be “transitory,” is now sounding direr.

Certainly, the economic outlook globally is challenging and uncertain and higher fuel and energy prices are having 'stagflationary' effects,” Yellen said at a news briefing.

Inflation remains at a 40-year high.

The national average price of gas topped out Thursday at $4.58 a gallon, another record that’s been broken every day this week.

Gas prices are not only hurting Americans but also eating away massive chunks of corporate profits.

We project that’s going to hit us about a billion dollars in incremental costs,” Brian Cornell, who is the CEO of Target, said in reference to sky-high fuel rates.

President Joe Biden has been struggling to address soaring prices, while politicians play the blame game.

“The Democrats have wanted it to all be cost-side inflation that’s driving this because those are things that are out of their control," said Steven Kyle, an associate professor at Cornell College of Business School. "The Republicans said, 'No, you stimulated the economy too much. That’s what's causing it and you have to dial it back.' You know, both things can be true at the same time.”

Not everything is looking gloomy, as the unemployment rate is still low, and Americans continue to spend heartily.

 

[winners]

If the war will drag on for another 6 months, a worldwide recession is imminent. Hopefully, once the war is over, the economic recovery (sans Russia) will be strong and speedy since the Covid pandemic fear is also fast abating.

 

[hbk75]

If the war will drag on for another 6 months, a worldwide recession is imminent. Hopefully, once the war is over, the economic recovery (sans Russia) will be strong and speedy since the Covid pandemic fear is also fast abating.

Even war finished. Those usa inflation caused by massive amounts of money printing will not end also. Russia also will not sell oil in usd again. The whole world monetary system has changed liao.

 

[winners]

Even war finished. Those usa inflation caused by massive amounts of money printing will not end also. Russia also will not sell oil in usd again. The whole world monetary system has changed liao.

Not true. Already the latest US unemployment rate is beginning to creep up again and this will dampen the demand. The FED had already signalled no more buying of bonds. The "un" domination of the US dollar has been said many times before but even the € is still not able to be a world dominant currency of trade till this day.

 

[hbk75]

Not true. Already the latest US unemployment rate is beginning to creep up again and this will dampen the demand. The FED had already signalled no more buying of bonds. The "un" domination of the US dollar has been said many times before but even the € is still not able to be a world dominant currency of trade till this day.

Now is new bretton woods 3 liao. Slowly usd will up lorry. Anyhow cheong kong people's money. Who wanna keep so much usd? China and Japan also selling us bonds now.

 

[winners]

Now is new bretton woods 3 liao. Slowly usd will up lorry. Anyhow cheong kong people's money. Who wanna keep so much usd? China and Japan also selling us bonds now.

We shall see, we shall see. Yes, the strongest will prevail, but definitely not the Russian ruble. Even the € has been dropping from over US$1.20/€ to US$1.05/€ currently within the last 1 year.

The next best candidate after the US$ is the Chinese Yuan, but Winnie will not allow this because he is fearful of his currency being manipulated.

 

[hbk75]

We shall see, we shall see. Yes, the strongest will prevail, but definitely not the Russian ruble. Even the € has been dropping from over US$1.20/€ to US$1.05/€ currently within the last 1 year.

The next best candidate after the US$ is the Chinese Yuan, but Winnie will not allow this because he is fearful of his currency being manipulated.

winnie the pooh wanna make sure the export dependency of the economy drops further then may allow rmb to float. currently china export is 15% of gdp. maybe dropping to 8% then hosay liao.

 

[winners]

winnie the pooh wanna make sure the export dependency of the economy drops further then may allow rmb to float. currently china export is 15% of gdp. maybe dropping to 8% then hosay liao.

This is not an easy task. China is very export oriented driven. Otherwise, they won't have the never ending tariffs disputes with America. In addition, China's own economy is beginning to drift lower especially with their tough clamp downs (due to Covid (abeit temporarily) and their tech sectors (very critical)). Winnie's biggest mistake is to taper off the overseas opportunities for these big private companies and Winnie is constantly eyeing for part of their shares to be diverted into the CCP coffers instead because of Winnie's "common prosperity" strategy.

 

[syed putra]

This is a supply disruption inflation. Artificial demand driven inflationndue to shortages cause by lockdowns, climate change policies and a small portion, due to ukraine.