Quote:
Originally Posted by huge-pigeons
What do you think? I thought we were in one a couple years ago (2022) and I do think we will be in one soon. With the high debt in this country, the highest ever personal debt and soon coming more defaults on this personal debt, or war in the Middle East, or if we have any internal terrorist attack, any of these could trigger a recession IMO.
Here is what Jamie Dimon stated:
JPMorgan Chase CEO Jamie Dimon said Wednesday he still believes that the odds of a “soft landing” for the U.S. economy are around 35% to 40%, making recession the most likely scenario in his mind.
“There’s a lot of uncertainty out there,” Dimon said. “I’ve always pointed to geopolitics, housing, the deficits, the spending, the quantitative tightening, the elections, all these things cause some consternation in markets.”
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I am still working. I run the purchasing group for a Fortune 500 company. He is wrong - we are IN a recession. If we aren't we are going into one. Everything has slowed down, sales for all my suppliers are down, they are all asking for more orders. Commodity prices are falling - Cold Rolled steel coils are less than $1000 a ton, first time in a long time. I don't see a soft landing. Its not the end of the world, it is taming inflation. The fed is succeeding.