75% of the ultra-rich forecast a US recession in the next two years, survey finds from CNBC.
- Of those expecting an economic downturn in the U.S., a fifth of respondents — 21 percent — believe it will begin in 2019 and 50 percent expect the next recession to start in 2020.
- The ominous predictions may come as a surprise to some, seeing as the U.S. is enjoying strong growth, robust corporate earnings and its lowest unemployment in 17 years.
- The International Monetary Fund recently upped its U.S. growth forecast for 2018 to 2.9 percent.
The U.S. economy is firing on all cylinders, yet 75 percent of ultra-high net worth investors predict it will hit recession by 2020, a J.P. Morgan survey found.
Of those expecting an economic downturn in the U.S., a fifth of respondents — 21 percent — believe it will begin in 2019 and 50 percent expect the next recession to start in 2020.
J.P. Morgan Private Bank’s Spring Investment Barometer, released this week, surveyed more than 700 global private clients across Europe and the Middle East. Ultra-high net worth individuals (HNWI) are generally classified as anyone with more than $30 million in liquid financial assets, and high-net worth is defined as having more than $1 million.
The ominous predictions may come as a surprise to some, seeing as the U.S. is enjoying strong growth, robust corporate earnings and its lowest unemployment in 17 years. The International Monetary Fund recently upped its U.S. growth forecast for 2018 to 2.9 percent.
www.cnbc.com/2018/07/26/3-charts-that-show-why-the-us-should-stop-ignoring-its-debt-problem.html
“…the U.S. is the only advanced economy where the debt-to-GDP ratio will increase over the next five years.”
www.newsweek.com/trump-tax-cuts-debt-china-907763
“The IMF predicts that by 2023, the U.S. will have a larger debt-to-GDP ratio than Italy, a country with such high debt that it’s often referred to as a “systemic threat” to Europe.”
www.businessinsider.com/the-national-debt-is-rising-much-faster-than-the-economy-2018-3?IR=T
“…the size of the US economy increased by 4.4%. Yet the national debt grew by 6%.
Now that might not seem like a big difference. But it is. On a proportional basis, the national debt expanded 36% faster than the US economy (even if you include inflation).
Over the course of several years, that effect compounds into something that’s quite nasty.”
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The bubble will pop, the stock market is inflated with debt, the US tax cuts were paid with debt, government spending has increased, the deficits are increasing.
Real US unemployment is posited to be between 15-17%.
USA is ranked 14th highest in terms of government debt as % of GDP: 107.785%
Current USA debt: $21,490,885,696,294
h/t TheCrunk1