Quantcast
Thursday, March 28, 2024

Biden’s Economy Headed for Stagflation, Recession

'We have a huge inflation problem and the Fed continues to drag their feet... '

(Tony Sifert, Headline USA) Global financial markets are preparing for stagflation, the combination of high inflation, high unemployment, and low growth, according to the Epoch Times, which highlighted the results of a Bank of America survey which found that “global fund managers . . . have never been more pessimistic on the outlook for economic growth.”

Recession was the “consensus” fear, according to the survey, with 26% seeing “global recession are the most profound risk.

In a blow to a Biden Administration desperate to blame Russia for skyrocketing inflation, only 16% of fund managers “saw the Russia-Ukraine war as the top worry,” the survey found.

The Times also pointed to a Goldman Sachs executive’s apparent rejection of “passive investing” as no longer relevant.

“There is a need to rethink how we construct portfolios,” Goldman exec Maria Vassalou said on a podcast. “Passive investing will be less relevant going forward.”

Asset manager Nancy Tengler suggested that “investors might need to consider embracing a more dynamic inflation strategy” that would include “real estate investment trusts (REITs), precious metals, energy commodities, and robotics.”

“We have a huge inflation problem and the Fed continues to drag their feet,” Peter Schiff, president and CEO of Euro Pacific Capital said on his podcast.

“They’re going to try to expand the money supply even more aggressively to try to stimulate it, which is why we’re going to have more inflation during the next recession.”

Nouriel Roubini, professor emeritus of economics at New York University, warned in the Guardian that “the world faces a growing stagflationary storm.”

“The new reality with which many advanced economies and emerging markets must reckon is higher inflation and slowing economic growth,” the veteran of the IMF, the Fed, and the World Bank wrote.

“And a big reason for the current bout of stagflation is a series of negative aggregate supply shocks that have curtailed production and increased costs.”

Copyright 2024. No part of this site may be reproduced in whole or in part in any manner other than RSS without the permission of the copyright owner. Distribution via RSS is subject to our RSS Terms of Service and is strictly enforced. To inquire about licensing our content, use the contact form at https://headlineusa.com/advertising.
- Advertisement -

TRENDING NOW

TRENDING NOW