We’re already in recession, here’s what to do, says economist who called last bubble | |
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Judethz User ID: 75895360 United Kingdom 06/25/2019 06:31 PM Report Abusive Post Report Copyright Violation | [link to www.marketwatch.com (secure)] Quoting: Anonymous Coward 77414172 Investors, who are awaiting this week’s G-20 get together between President Donald Trump and China’s leader, are now juggling a tense war of words between Tehran and D.C. Just words, we hope. We could use a bit of good news right about now. Enter our call of the day, from economist Gary Shilling, known for predicting bubbles like the housing debacle of 2008. Shilling talks about another worry for investors -- a big bad recession - in an interview with digital financial media group Real Vision. “I think we’re probably already in a recession, but I think [it will] probably be a run of the mill affair, which means real GDP would decline 1.5% to 2%, not to 3.5% to 4%, you had in the very serious [past] recessions,” said the president of money manager A. Gary Shilling & Co. He also lays claim to having forecast a global inventory glut that led to the 1973 to 1975 U.S. downturn. That's no big deal. I was on GLP back then and a few dozen or so of us saw this coming. It's just a matter of using a bit of common sense and basic arithmetic. |
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ROSICRUCIAN1 User ID: 76242271 Canada 06/25/2019 09:47 PM Report Abusive Post Report Copyright Violation | [link to www.marketwatch.com (secure)] Quoting: Anonymous Coward 77414172 Investors, who are awaiting this week’s G-20 get together between President Donald Trump and China’s leader, are now juggling a tense war of words between Tehran and D.C. Just words, we hope. We could use a bit of good news right about now. Enter our call of the day, from economist Gary Shilling, known for predicting bubbles like the housing debacle of 2008. Shilling talks about another worry for investors -- a big bad recession - in an interview with digital financial media group Real Vision. “I think we’re probably already in a recession, but I think [it will] probably be a run of the mill affair, which means real GDP would decline 1.5% to 2%, not to 3.5% to 4%, you had in the very serious [past] recessions,” said the president of money manager A. Gary Shilling & Co. He also lays claim to having forecast a global inventory glut that led to the 1973 to 1975 U.S. downturn. I thought the standard economist definition of recession was two or more quarters of zero or negative growth? am I wrong? |