US Economy Is ‘Complete Facade,’ Says Economist Who Claims Recession Is Near

The US economy will plunge into a recession in 2019, thanks to overreach by the Federal Reserve — which raised interest rates for the fourth time in 2018. That’s the sobering assessment of Canadian economist David Rosenberg, a strategist with Gluskin Sheff, a Toronto investment firm.

US Economy Is ‘Complete Facade,’ Says Economist Who Claims Recession Is Near 0104economy-760x400

US Economy Is ‘Complete Facade,’ Says Economist Who Claims Recession Is Near 0104economy-760x400

“The market is behaving as it did during the worst collapse for the market since 1929 and/or the worst recession since the Great Depression,” Rosenberg wrote at Business Insider. “The Fed is over-reached.”

To paraphrase Warren Buffet: ‘If this isn’t a bear market, then what is it?’

Rosenberg admits that he has a history of making bearish market predictions. In 2017, he projected that the US economy would melt down in 2018 — but that never happened.

So he’s back to the drawing board and has dusted off his old forecast to use again in 2019.

https://www.ccn.com/us-economy-is-complete-facade-says-economist-who-claims-recession-is-near/

US Economy Is ‘Complete Facade,’ Says Economist Who Claims Recession Is Near

US Economy Is ‘Complete Facade,’ Says Economist Who Claims Recession Is Near

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