‘Flashing yellow’: US facing 1 in 3 chance of recession within the year, says Bank of America.
Bank of America has warned the US economy has nearly a one-in-three chance of being plunged into a recession within the year as the trade war with China heats up and interest rate tweaks fail to soothe a troubled market. Discarding an “official model” predicting “only” a one-in-five chance of economic doom within the coming year, Bank of America’s US economics head Michelle Meyer warned clients on Friday that the bank’s “subjective call based on the slew of data and events leads us to believe it is closer to a 1-in-3 chance.”
The resurgence of the US-China trade war, whose latest victims – American farmers – have already been devastated by a growing season plagued by flooding and droughts, and a “global economic slowdown” have set several economic indicators “flashing yellow,” Meyer said in a note to clients on Friday. Auto sales, industrial production, and total hours worked – three of the five indicators the bank uses to track business cycles – are at levels seen immediately prior to previous recessions.
Meanwhile, consumer prices surged 2.3 percent in the first six months of 2019, the fastest such rise in years - an increase retailers are blaming on the trade war. With another round of 10 percent tariffs set to be imposed on $300 billion worth of Chinese goods next month, prices are sure to keep creeping up.
Americans are already suffering, tens of thousands dying from lack of healthcare, stagnant wage growth, Jews and corporations enjoying their massive tax breaks while white working Americans get peanuts, growing government authoritarianism which has been able to continue unfettered for decades now. And the Jews will STILL make a killing even if the stock market crashes. They always come out on top.
Adrian Rogers
ive been here 4 years and i always seen this obvious memeflag troll russian vatnik style i wonder whats his secret
Some of us have been banking on it. Looking forward to buying some underwater property again
Oliver Hughes
>Thoughts on America’s recovery? NO SUCH A THING BEFORE AMERICA GETS DESTROYED, FINANCIALLY and TO LARGE EXTEND PHYSICALLY. Like many other EMPIRES in the past got destroyed (Great Britain) is the latest example, EVIL BLOOD THIRSTY GREEDY AMERICA is next. !!!!!!!!
And that's a very good thing for the rest of humanity.
RUSSIA WILL RAISE TO THE TOP. It's prophesied to be so. !!!!!!!!!!!!!!!!!!
>ive been here 4 years and i always seen this obvious memeflag troll russian vatnik style i wonder whats his secret YOU ARE FULL OF SHIT. Would you like to know why ???
Xavier Johnson
Indeed. The best time to buy property is when the market takes a cock in the ear hole.
Joshua White
>Some of us have been banking on it. Looking forward to buying some underwater property again >underwater property In that case this applies to you. LOCATION-LOCATION-LOCATION C A L I F O R N I A
