(TheLibertyRevolution.com)- The coming recession will be unlike any other, according to Blackrock. The IMF claims that a global economic downturn is currently happening.
The well-known investor Michael Burry, who made significant gains from the 2008 market crash, also sees a US recession coming.
But according to President Joe Biden, this isn’t a recession. If he says it is true, then it must be true. Biden would never tell a lie or make a mistake. /Sarcasm off.
Regardless of what Joe Biden says, Rick Santelli of CNBC asserts that investors will act accordingly given that the US is currently experiencing an economic downturn,
So what exactly is going on? Is Biden right, or Biden wrong?
One of the largest financial firms in the world predicts a bleak future for the US and global economies in 2023.
According to BlackRock, an impending global recession will accompany more market instability than ever as central banks aggressively raise borrowing costs to control inflation.
The world’s largest asset manager predicts that increased unpredictability will become the new normal. The global economy has already exited a period of steady growth and inflation that lasted four decades and entered a period of increased turbulence.
Under the direction of vice chairman Philipp Hildebrand, BlackRock strategists wrote a study titled 2023 Global Outlook in which they forecast that governments would no longer be able to support the markets as much as they had been able to in previous recessions.
Researchers claim that Central banks are frantically working on trying and controlling inflation while foreseeing a recession. They asserted that this recession was different from previous ones.
Contrary to what investors have come to believe, under this new way of the financial world, central bankers won’t intervene to help when GDP slows. Equity pricing has not yet taken into account the potential harm.
The fact that businesses are laying off workers, inflation is at 40-year highs, Americans are piling up credit card debt, and the majority of companies are already behind on their heating bills make this terrible news.
The Biden Economy is about to hit a massive speedbump.