US on “precipice of recession,” warns leading economist

13 comments

1. By Hugh Cameron – U.S. News Reporter:

   A leading economist believes that recent reports on the health of the U.S. economy point to an impending downturn.

   “The economy is on the precipice of recession. That’s the clear takeaway from last week’s economic data dump,” Moody’s Chief Economist Mark Zandi posted to X on Sunday. “Consumer spending has flatlined, construction and manufacturing are contracting, and employment is set to fall.”

   Read more: [https://www.newsweek.com/us-economy-recession-precipice-economist-warning-2109011?utm_source=reddit&utm_campaign=reddit_main](https://www.newsweek.com/us-economy-recession-precipice-economist-warning-2109011?utm_source=reddit&utm_campaign=reddit_main)

2. It’s because of Obama’s tan suit.

3. Prices are to high when wages are this low. But how else do you end up with billionaires?

4. CME FedWatch showing a 91% chance of a rate cut in September. It was 40% before the Friday payroll numbers.

   Powell knows a recession is likely, but he also knows rate cuts under our financial system are not going to come without consequences.

   https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html

5. That typically means we’re already in one — just the numbers don’t show it yet.

6. Yeah… I mean when you’re local fast food worker is talking about the “economy”. Oh wait, those jobs don’t exist.

7. Hmmm, looks like someone else will be losing their job shortly…

8. We here baby

9. And they’re fired…. 😆

10. Business cycle peak was April.

11. A leading economist is exactly the kind of person Trump will call a liar and MAGA cultists will ignore. That is, if they accidentally happen upon some news outlet that’s not part of the right-wing propaganda industry. 🙄

12. No duh.

13. Not just a recession but hyperinflation coming up as well!

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