- The Great Recession has been over for a decade.
- Yet many people’s finances haven’t recovered from the recession’s blows, according to a new survey by personal finance website Bankrate.com.
- “Even a modest downturn is going to cause further harm to Americans personal finances,” said Mark Hamrick, senior economic analyst at Bankrate.com.
The Great Recession has officially been over for a decade. For many Americans, there’s little reason to celebrate.
Many people’s finances haven’t recovered from the recession’s blows, according to a new survey by personal finance website Bankrate.com.
“There are still tens of millions who are struggling to even get back to where they were before the economy took a turn for the worse,” said Mark Hamrick, senior economic analyst at Bankrate.com.
More than half of Americans who were adults amid the Great Recession said they endured some type of negative financial impact, Bankrate found. And half of those people say they’re doing worse now than before the crisis.
- Havens in, tech stocks out may be the theme for Friday.
Investors seem eager to insure themselves against geopolitical tensions that have flared up in the Middle East and Hong Kong this week, with gold vaulting on Friday. Meanwhile, U.S. technology stocks might not win any popularity contests as a red flag cropped up over how the trade war is biting that industry.
Tech conglomerate Broadcom is sliding in premarket activity after slashing its revenue guidance, citing a hit from an export ban on big Chinese customer Huawei, so it could be the Nasdaq COMP, -0.52% that leads the market south as traders head into the weekend.
Trade tensions are also one reason DoubleLine Capital Chief Executive Officer Jeffrey Gundlach now sees a bigger chance of a recession hitting U.S. shores in the not-too-distant future.
Providing our call of the day, Gundlach predicted a 40% to 50% chance of a U.S. recession within the next six months and a 65% chance of that happening in the next 12 months, in a webcast to clients late Thursday, according to a roundup of his comments from Reuters and other media outlets. He said signs of a slowdown on the global economic front are also a worry.