Blackrock is saying to get ready for a recession like no other.
We’ve been warned for some time. The world is facing recession, the IMF declared.
The famous investor who made real money from the 2008 market disaster is warning about a recession in the US as well. Michael Burry saw the 2008 disaster coming and he is saying it again.
Joe Biden told us we aren’t in a recession. He says that it so it must be true, right?
So what really is going on?
According to one of the largest investment firms in the world, the economic outlook for the US and the world is not good for 2023.
Blackrock says a global recession is coming.
A worldwide recession is just around the corner as central banks boost borrowing costs aggressively to tame inflation — and this time, it will ignite more market turbulence than ever before, according to BlackRock.
The global economy has already exited a four-decade era of stable growth and inflation to enter a period of heightened instability — and the new regime of increased unpredictability is here to stay, according to the world’s biggest asset manager.
That means policymakers will no longer be able to support markets as much as they did during past recessions, a team of BlackRock strategists led by vice chairman Philipp Hildebrand wrote in a report titled 2023 Global Outlook.
“Recession is foretold as central banks race to try to tame inflation. It’s the opposite of past recessions,” they said. “Central bankers won’t ride to the rescue when growth slows in this new regime, contrary to what investors have come to expect. Equity valuations don’t yet reflect the damage ahead.”
This is not good news when companies are laying off, inflation is at 40-year-highs and Americans are building up credit card debt while most businesses are behind on their heating bills already.
The Biden Economy is falling apart.