Professor warns America ALREADY in recession that could be as bad as ’08… ICAHN: Market will certainly ‘hit wall’…

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America is ALREADY in a recession that could be as bad as 2008: Dartmouth College prof David Blanchflower warns that the real state of the economy has been skewed by Biden’s huge unemployment payments

  • Conference Board and University of Michigan produce consumer indices 
  • New paper says that anything more than 10-point dip indicates recession
  • One of the authors, Dartmouth College professor David Blanchflower served on the Bank of England’s Monetary Policy Committee from 2006 to 2009
  • Conference Board index dropped 25.3 points in 2021, UM index dipped 21 points
  • Economists argue that GDP growth and abundance of jobs belies pending crisis
  • Comes amid grave fears of global supply chain chaos and soaring inflation 

America has already slipped into a recession that could be as bad as the 2008 financial meltdown according to key consumer data, a Dartmouth College professor has warned.

David Blanchflower, of Dartmouth, and Alex Bryson, of University College London, say that every slump since the 1980s has been foreshadowed by 10-point drops in consumer indices from the Conference Board and University of Michigan.

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The indices are drawn from questions put to ordinary Americans about their income expectations, employment conditions and what they expect for the US economy in the near future.

The Conference Board has measured a 25.3-point drop in 2021, while UM has recorded an 18.4-point slump. This compares to a 19-point and a 21-point dip for the indices respectively ahead of the 2008 global financial crash.

‘It seems to us that there is every likelihood that the United States entered recession at the end of 2021,’ the authors write in a new research paper.

Blanchflower served on the Bank of England’s Monetary Policy Committee from 2006 to 2009.

 

Carl Icahn says the market over the long run will certainly ‘hit the wall’ because of money printing

  • Carl Icahn said Monday that U.S. markets could see major challenges over the long term in the face of excessive money supply and rising inflation.
  • “In the long run we are certainly going to hit the wall,” Icahn said. “I really think there will be a crisis the way we are going, the way we are printing money, the way we are going into inflation.”
  • The Federal Reserve and Congress have unleased trillions of dollars in stimulus to rescue the economy from the Covid-19 pandemic.
  • Icahn was adamant about not making a market timing call, but he believes one day over the long term the markets will pay the price for these policies.
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