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Deutsche Bank now expects 'an earlier and somewhat more severe recession'
Posted on 6/18/22 at 1:24 am
Posted on 6/18/22 at 1:24 am
quote:
The first economist on Wall Street to predict a U.S. recession in 2023 is moving up his timeline for an economic contraction.
"More than two months ago we forecasted that the U.S. economy would tip into a recession by end-2023," Deutsche Bank Chief U.S. economist Matt Luzzetti wrote in a note to clients on Friday. "Since that time, the Fed has undertaken a more aggressive hiking path, financial conditions have tightened sharply and economic data are beginning to show clear signs of slowing. In response to these developments, we now expect an earlier and somewhat more severe recession."
Luzzetti now sees U.S. gross domestic product (GDP) growth coming in at "sub-1%" in the first half of 2023, followed by a -3.1% contraction in the third quarter of 2023 — one quarter earlier than Luzzetti previously estimated. In the fourth quarter of 2023, Luzzetti expects growth to contract by another -0.4%.
LINK
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Posted on 6/18/22 at 4:06 am to Jjdoc
Thank you dimocrats, pedocrats and stupid pedo joe.
Posted on 6/18/22 at 5:31 am to Jjdoc
At least we don't have to worry about mean tweets anymore
Posted on 6/18/22 at 6:03 am to Jjdoc
Cue the media protection of our current leadership by explaining it all away due to unforeseen ______.
Posted on 6/18/22 at 7:14 am to Jjdoc
They're right but they shouldn't have any credibility left, run by idiots.
Posted on 6/18/22 at 7:16 am to Jjdoc
quote:
Deutsche Bank
quote:this makes me feel good
now expects 'an earlier and somewhat more severe recession'
Posted on 6/18/22 at 7:21 am to jeffsdad
You could just say thank you aggiehank for being a pedophile. He fricks children and he needs to called out on it
Posted on 6/18/22 at 7:22 am to Jjdoc
If we’re not in recession now then I can’t imagine how ugly it’s going to get. Things are looking grim already.
Posted on 6/18/22 at 7:22 am to SECdragonmaster
quote:
Cue the media protection of our current leadership by explaining it all away due to unforeseen ______.
The State Media Propagandists are already pivoting from “Biden’s Booming Economy” …to,
“Most of the economic conditions that are currently dragging the US into a recession were already in place before Whispering Joe was sworn in…..it’s not his fault.”
Posted on 6/18/22 at 7:23 am to Jjdoc
We are in a recession now and the idiot in chief will make it worse!
Posted on 6/18/22 at 7:26 am to mule74
quote:
If we’re not in recession now then I can’t imagine how ugly it’s going to get. Things are looking grim already.
Generally the people are feeling the recession months before the Fed makes the official announcement. That’s how fricked up our Federal Reserve system truly is…..it’s almost like they know exactly what they’re doing when they implement reckless monetary policies to keep the boon/bust cycle going.
Posted on 6/18/22 at 7:37 am to SECdragonmaster
quote:
Cue the media protection of our current leadership by explaining it all away due to unforeseen ______.
quote:
Luzzetti now sees U.S. gross domestic product (GDP) growth coming in at "sub-1%" in the first half of 2023, followed by a -3.1%
The media will explain it away as being “due to the unforeseen gridlock caused by the Republicans preventing Biden from implementing his agenda.”
Posted on 6/18/22 at 8:00 am to Jjdoc
Outside of GWB being halfway retarded, why do Dem presidents always leave the country in shambles for a GOPer to inherit?
Posted on 6/18/22 at 8:02 am to Bass Tiger
quote:
Generally the people are feeling the recession months before the Fed makes the official announcement. That’s how fricked up our Federal Reserve system truly is…..it’s almost like they know exactly what they’re doing when they implement reckless monetary policies to keep the boon/bust cycle going.
Other banks are projecting that there won't be a very severe recession or even a recession.
Interest rate rises are meant to dampen demand - the fact that sentiment is becoming negative suggests that interest rate hikes are working.
It doesn't match fundamentals either. Consumers are in a much better position, banks are well capitalized with strong balance sheets, and valuations are much more reasonable than 2008/2000.
Boom/Bust is a natural part of the business cycle.
Posted on 6/18/22 at 8:04 am to mule74
quote:
If we’re not in recession now then I can’t imagine how ugly it’s going to get. Things are looking grim already.
Exactly
Posted on 6/18/22 at 8:05 am to drdanger605
quote:
It doesn't match fundamentals either. Consumers are in a much better position, banks are well capitalized with strong balance sheets, and valuations are much more reasonable than 2008/2000.
Boom/Bust is a natural part of the business cycle.
We’ll see….I got ya bookmarked…lol!
Posted on 6/18/22 at 8:07 am to idlewatcher
quote:
Outside of GWB being halfway retarded, why do Dem presidents always leave the country in shambles for a GOPer to inherit?
Biggest difference this time is it’s intentional.
Posted on 6/18/22 at 8:11 am to Bass Tiger
quote:
We’ll see….I got ya bookmarked…lol!
I'm prepared to be wrong.
I just can't see there being a recession as of yet.
good lordPosted on 6/18/22 at 9:14 am to drdanger605
quote:
We’ll see….I got ya bookmarked…lol!
I'm prepared to be wrong.
I just can't see there being a recession as of yet.
Now I know who you are…..
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