A year ago most economists expected a recession. Now 91% say otherwise. Only 9% of respondents reported a recession being more likely than not, down from 18% in the previous survey. Consumer sentiment jumped in January, inflation has cooled, and the labor market remains robust.
by mafco
5 comments
“Here is why this is bad for Joe Biden”
What key economic indicators are people complaining about?
The Consumer Confidence Survey shows,
“Consumers’ Perceived Likelihood of a US Recession over the Next 12 Months abated in December to the lowest levels seen this year”.
The Survey also notes a percentage still believe a downturn is possible. I think we are all justifiably skeptical of economic stability predictions, based on what we observed during and after the 2008 financial crash, that left so many in a bad situation.
Just before the 2008 collapse, Forbes declared Lehman Brothers, the poster child for the subprime mortgage collapse, the No. 1 “most admired securities firms”. Oops. They were also given an ‘A’ credit rating by S&P’s rating agency just six days before collapse. So skepticism is warranted.
In our current highly polarized political environment, I also believe it is about political parties not wanting to give the other team a win.
If you believe the economy is bad, Why is the economy bad compared to the previous administration?
Now I’m afraid a recession is coming, it’s been forecast for so long, something weird is going to happen
So what everyone thought would happen, the opposite happened, and now you are saying everyone thinks things are great and there will be no major downturn. 🤔
I work in tech, and it has felt like we did the whole recession thing from Jan 2022 until about Oct 2023.