The current state of the U.S. economy doesn’t look good at all. In fact, legendary investor Michael Novogratz is explicitly warning that “the economy is starting to fall apart”: “We are going into recession really fast, and you can see that in lots of ways,” he said. “Housing is starting to roll over. Inventories have exploded. There are layoffs in multiple industries, and the Fed will continue to hike interest rates until inflation rolls over.”
“Businesses are nervous, and sentiment is at risk of breaking — even if nothing goes wrong,” added Mark Zandi, the chief economist at Moody’s Analytics, “And plenty could go wrong. A severe downturn could materialize swiftly if businesses lose faith, and there is a good chance they will. The economy is throttling back. Way back,” he alerts. Several indicators are pointing to more trouble ahead. What most people still don’t realize is that we’re facing the combined threat of a recession, tumbling stocks, crashing home prices, mass layoffs, and stubborn inflation all at once. And the end game is going to be catastrophic.
Even the four biggest American banks are now getting ready for shrinking profits, Reuters reported. “U.S. banking giants are forecast to report lower fourth-quarter profits this week as lenders stockpile rainy-day funds to prepare for an economic slowdown that is battering investment banking,” the outlet highlighted. JPMorgan, Bank of America, Citigroup, and Wells Fargo, along with Morgan Stanley and Goldman Sachs, are the six largest lenders expected to amass a combined $5.7 billion in reserves to prepare for soured loans. That is more than double the $2.37 billion set aside a year earlier. “With most U.S. economists forecasting either a significant recession this year, banks will likely incorporate a more severe economic outlook,” said Morgan Stanley analysts led by Betsy Graseck in a note. The six banks are also expected to report an average 17% drop in net profit in the fourth quarter from a year earlier, according to preliminary analysts’ estimates from Refintiv. When even the largest banking institutions in the country are facing financial losses, then we know something really wrong is happening in our economy.
The crisis we’re about to face will be like no other. Many experts believe that the recession that is staring us in the face will be even worse than what we went through more than a decade ago. “This one is going to be even bigger because the economy has a lot ‘more debt now than it did in 2008,” explains economist Peter Schiff. “And Americans are less able to pay it when interest rates rise because the balances are much greater. So, we’re in much worse shape as a result of all the bailouts and all the stimulus that papered over the last crisis. Now the one we’re dealing with is going to be much worse because we kicked the can down the road instead of solving the problem when we had a chance,” he stresses.
It is crystal clear now that the ripple effect of decades of reckless monetary decisions made by our leaders is now catching up with us, and the next chapters of this collapse will be even darker than the ones before. Our entire economy is crumbling down and we’re all at risk of going down with it. In today’s video, we compiled several stats that expose the dire state of the U.S. economy, as well as forecasts, projections, and warnings from some of the brightest minds in the economic and financial world.
For more info, find us on: https://www.epiceconomist.com/
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Things start at the top whoever that is. But soneone has to start the increase in prices. Big retailers need to stand up and refuse to pay these prices
There is no oil shortage. If they say there id, then thy are lying. Why do these lies get told? To scare customers
I can’t wait when Amazon , IKEA , Walmart and Winners of their respective collapse they are No. 1 caused of Global Warming excessive and massive unnecessary markets of unsustainable not reusable products or stuffs is killing polluting this planet 🌎.people should stop buying garbage that pollute the environment.
Why is this happening in Canada and now the USA, is WEF behind this
My wife and I was preparing for this from long time. Have paid house and free and clear apartment building and enough money saved up long time to survive. Also help others in the community. Stay strong and do your best it's going to be alright.
Anybody else hear " Taps"?
I think all of this turmoil is adding to climate change. I hear racism causes climate change, let's throw this in the pot as well. I know there will be more.
The US economy is far from screwed up. I don't why there are so many people posting this crap. Compare the US economy to other economies in G20 and you will see we are in pretty good shape. Inflation is still too high but has decreased for 6 consecutive months thanks to the Fed raising interest rates to slow the economy. In case you people don't know the US economy was growing at such a rate that it was becoming overheated which drives up inflation, raising interest rates US the only way to slow the economy down. Unemployment is very low, there are more jobs than there are people who want them. It is unfortunate that most Americans do not have a basic understanding of macroeconomics so they would understand this stuff.
I think with your voice, GOD should appoint you as the official spokesman for JUDGMENT DAY
Is this the precursor to a depression? It sounds like we’re headed in that direction. Will the “government” confiscate our money? They’d tell us it was for the good of all. Instead of they’re robbing us!.
Fake food prices going up 🔥💔
This is what you get when you vote for Joe Biden and the dumbocrats. The only thing they know how to fix are elections.
In the meantime keep sending billions of dollars to other countries for wars. Perhaps the war industries balance the economic downturn with war profits from around the world.
No good comments 👇
its almost like putting big business first is bad for the economy
Get into hard assets like real estate. As the dollar could collapse
You forgot to mention the high debt timebomb
They always say this when elections come near
The Chickens are coming home to roost. To much kicking the can down the road since we went off the gold standard..
Keep giving billions to the proxy war. Time to tighten the economic belt. Your military 🪖 complex is robbing you. Eat better and eat less.
I am not worried about the economy. I've been preparing for a collapse of our entire civilization I'm ready for whatever comes. I'm just hoping that with the collapse of civilization we get our freedom back that's all I want.
Man, modern capitalism starting is looking a lot like soviet communism. This economic system has begun it's final century.
If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you, prevent inflation from eroding your savings, build generational wealth, and cultivate good habits and financial knowledge, you must be in the market.
Inflation is much worse than the fake Government CPI numbers indicates.
We have been hearing about the commercial real estate crash for quiet a while now, but nothing ever seems to happen.
Worthless American LA Port Consumption. No Production!
System about finished,whole entire system about shift structure change things about get beyond worse in 2023, food shortage is coming and more business going out business and continue currency and once bring digital currency and MOTB,not going last going crash and fail badly,which either way system is done any way,things not going last that reality of things is coming worldwide soon just matter time.
It’s already collapsed
An economy built on infinite growth deserves to collapse. It's killing the planet.
It’s not going w be a recession it’s gonna be a depression
Stay vigilant and I would love to tell you The Truth from The Holy Bible about what is going on. However, I politely encourage you to read it for yourselves. By The Way, check out Truthunedited and Stephan Darby's sermons to get a deeper understanding for The Life. May YAH bless you, your families, and HALLELUYAH!
Making money should be a routine. A weak dollar can signal an economic downturn, making me to ponder on what are the best possible ways to hedge against inflation, and I've overheard people say inflation is a money-eater thus worried about my savings around $200k
When ESR Takes over we will own nothing and die.
Start with $31.5 Trillion in debt……….if every man, woman and child in the US paid $95,000 it would be paid off. Real simple.
Seems Biden thinks if he continues to send billions to the Ukraine somehow that is his most important action he can take. Forget about the struggles Americans are experiencing.
Let’s Go Brandon. You have done enough damage.
It's funny we talk about the economy as if it is an entity by itself. When will we call out those who are in control and who are enjoying doing this to the world for nefarious reasons?
The Feds could only do so much, printing more money to hand it out so people could have some spending cash to help pay the mounting debts, interest rate can only be brought up so much before it can no longer hold the impending total economic collapse… its only a matter of time. the new strain of covid that will shock the whole world with how infectious and severe it can be, it will push countries to go on lockdowns again which will really hurt and reverse the economic recovery they had after lockdowns had been lifted. this is all China's plan to weaponize this mutating virus.
Don’t come to Canada it’s not any better
The automobile market has been hit hard too
Didn't this channel “predict” the collapse of Walmart like 3 months ago?
The criminals at the top 🎩 are destroying the economy, bankrupting the people and will create money out of thin air to buy the world out from under us. We will all be tenants, always beholding to someone else.
I click like to whatever that is about the collapse of usa. Can't wait to see a world without the sinful usa.
People are way too greedy for their own good
Thanks to the current administration printing process during the bug release giving out far to much stimulus now its a great downfall all the way around the world if the current administration would have left everything alone and just given out no more than $1,000.00 a month to everyone only unemployed just during the lock down and only enough to businesses to pay rent and employees during lock down would have been fine but it was over done and didn't keep track it became wasted and became a corrupted system of money to unscrupulous people liers about their so called business they claimed they had and they just kept printing and spending
They keep calling it a "recession". I feel as if it's going to be far worse than the great depression. A perfect storm is, and has been brewing for a while now.
is time to go USA
But Biden says this is a strong economy.
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