The economy is going to collapse,’ says Wall Street veteran Novogratz.

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cancel2 2022

Canceled
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Veteran investor and bitcoin bull Michael Novogratz doesn’t have a rosy outlook on the economy, which he described as headed for a substantial downturn, with the likelihood of a “fast recession” on the horizon.

“The economy is going to collapse,” Novogratz told MarketWatch. “We are going to go into a really fast recession, and you can see that in lots of ways,” he said, in a Wednesday interview before the Federal Reserve decided to undertake its biggest interest-rate hike in nearly three decades.

“Housing is starting to roll over,” he said. “Inventories have exploded. There are layoffs in multiple industries, and the Fed is stuck,” he said, with a position of having to “hike [interest rates] until inflation rolls over.”

Central-bank policy makers agreed to deliver an unusual 0.75-percentage-point rate increase, concluding a closely watched two-day policy meeting with a move that would push the Fed’s benchmark federal-funds rate rising to a range between 1.5% and 1.75% as it steps up the effort to quell an inflation rate that is hovering around a 40-year high.

https://www.marketwatch.com/story/t...o-go-into-a-really-fast-recession-11655328960
 
Primavera said:
.
Veteran investor and bitcoin bull Michael Novogratz doesn’t have a rosy outlook on the economy, which he described as headed for a substantial downturn, with the likelihood of a “fast recession” on the horizon.

“The economy is going to collapse,” Novogratz told MarketWatch. “We are going to go into a really fast recession, and you can see that in lots of ways,” he said, in a Wednesday interview before the Federal Reserve decided to undertake its biggest interest-rate hike in nearly three decades.

“Housing is starting to roll over,” he said. “Inventories have exploded. There are layoffs in multiple industries, and the Fed is stuck,” he said, with a position of having to “hike [interest rates] until inflation rolls over.”

Central-bank policy makers agreed to deliver an unusual 0.75-percentage-point rate increase, concluding a closely watched two-day policy meeting with a move that would push the Fed’s benchmark federal-funds rate rising to a range between 1.5% and 1.75% as it steps up the effort to quell an inflation rate that is hovering around a 40-year high.

https://www.marketwatch.com/story/t...o-go-into-a-really-fast-recession-11655328960
Click to expand...
Two recent Bond yield inversions...recession or worse.

Biden did this.
 
Primavera said:
.
Veteran investor and bitcoin bull Michael Novogratz doesn’t have a rosy outlook on the economy, which he described as headed for a substantial downturn, with the likelihood of a “fast recession” on the horizon.

“The economy is going to collapse,” Novogratz told MarketWatch. “We are going to go into a really fast recession, and you can see that in lots of ways,” he said, in a Wednesday interview before the Federal Reserve decided to undertake its biggest interest-rate hike in nearly three decades.

“Housing is starting to roll over,” he said. “Inventories have exploded. There are layoffs in multiple industries, and the Fed is stuck,” he said, with a position of having to “hike [interest rates] until inflation rolls over.”

Central-bank policy makers agreed to deliver an unusual 0.75-percentage-point rate increase, concluding a closely watched two-day policy meeting with a move that would push the Fed’s benchmark federal-funds rate rising to a range between 1.5% and 1.75% as it steps up the effort to quell an inflation rate that is hovering around a 40-year high.

https://www.marketwatch.com/story/t...o-go-into-a-really-fast-recession-11655328960
Click to expand...

Did he predict the last crash?
 
Dude



He’s all in Bitcoin


It’s falling




He’s trying to buff up Bitcoin



Geessse what a dupe you are
 
dukkha said:
Long Live Manchin
We are still in a bad way, but BBB would bring weimar republic type of inflation
Click to expand...

Manchin has saved the Republic, more than once.

A wheelbarrow full of dollars to buy one loaf of bread...in our future.
 
Lying about economics is what you assholes did before the 2008 crash too



Lying doesn’t fix things
 
I had a 9.34% mortgage on our first house in 1980. People thought our economy would collapse then, but it didn’t. I have more faith in our country than do others. Big business can not afford for the collapse of our economy. This too shall pass.
 
Recession Fears Surge Among CEOs, Survey Suggests - WSJ
https://www.wsj.com › articles › recession-fears-surge-a...
7 hours ago — More than 60% of executives see a recessionary period in next 12 to 18 months, according to the Conference Board survey.

The U.S. economy shrank last quarter. Is a recession next?
https://www.cbsnews.com › news › recession-risk-us-ec...
May 3, 2022 — "The next couple of years will be bumpy ones for the economy, with high inflation and slower growth," said PNC Chief Economist Gus Faucher in a ...
 
hope he's right about a fast recession but not so sure that will be the case.
the Fed is being quite deliberate and that is more likely to make for a more drawn out one and with all the markets involved the risks are far more significant.
 
Phantasmal said:
I had a 9.34% mortgage on our first house in 1980. People thought our economy would collapse then, but it didn’t. I have more faith in our country than do others. Big business can not afford for the collapse of our economy. This too shall pass.
Click to expand...

Biden is about to return you to that era, enjoy!
 
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