Prepare for economic disaster as former Treasury secretary predicts a 70 chance Of a recession starting this year due to Joe Biden's mishandling of the economy Shocking revelations ahead don't forget To stay on top of the latest news hit Subscribe below then tell your friends That you saw it at the next news my name Is Elijah Shafer Joe Biden's mishandling of the economy Is quickly leading America to an Impending recession according to former Treasury secretary Larry Summers Democrats are quick to blame external Factors such as natural disasters and Economic downturns in other countries For economic crisis that America faces However the latest prediction indicates That Biden's incompetence is the primary Reason behind the upcoming economic Collapse watch I think the chance that a recession will Have begun this year in the United States Um Over the next 12 months as this year I Think are probably about 70 uh percent Uh it's not something we can be certain Of but as I put together the Lags associated with monetary policy the Credit crunch risk the need for Continuing action around uh inflation The risk of uh geopolitical or other Shocks affecting Commodities 70 would be
The range that I would be in which I Think would put me at the pessimistic End of the spectrum of uh opinion Probably not at the extreme but probably More pessimistic uh than average Summers predicts that there's a 70 Percent chance of a recession starting This year owing to a combination of Factors such as the credit crunch risk Lag associated with monetary policy Inflation and the instability of Commodities these factors have a high Likelihood of leading America to the Brink of another recession even though Fewer people are optimistic about a Possible economic downturn in recent Months the former secretary is not the Only one concerned about the likelihood Of an impending recession a survey of Economists from different business Sectors also predicts a substantial Downturn in the economy a third of those Who are participated in the survey Believe that a recession beginning in The April June quarter is on the horizon While one-fifth expected to start from July September 2023 take a look Bank Lending So you know our main view is that we Have a mild recession starting very late In the year so I would agree with the Point that you know we could get out of This year without a recession uh I think The question is can we have a
Disinflation from where we are uh to Something closer to two percent without A recession uh historically that's never Happened I mean we don't have a ton of Data points on this type of inflation so It's possible hopes Hope's not Unreasonable but the history would Suggest to get back to inflation uh Around two percent would require a Rising unemployment rate of above a Percentage point which would be Associated with the recession so I think That's again the most likely scenario One can always hope that we have Something a little more of benign but But I don't think that's a starting Point that I would I would think about The current Administration does not seem Concerned about the warning signs that Are presumably evident as they continue To downplay the concerns of their Critics unfortunately there was already Evidence of an economic strain from the Banking crisis with at least two Banks Collapsing in a month Signature Bank and Silicon Valley Bank Received Federal bailout Aid when they Were no longer able to function properly Which speaks of volumes about Biden's Management style The former treasury secretary Hank Paulson also shared similar concerns During a recent interview with the Financial times Paulson points out that
The capital markets have shut down for Two to three weeks and though they've Reopened they are not as active as they Used to be many private sector banks are Not providing credit making it difficult For small and Regional Banks to lend This scenario only intensifies the Likelihood of a recession The analysis of the current economic Landscape suggests that the country is Going through difficult times and it's Not going to get any better anytime soon Experts predict that the worst is yet to Come creating a bleak picture for America's future With the current threats and challenges Faced by the country it is evident that Joe Biden lacks the skill set required To navigate Americans back to economic Growth and progress the future looks Grim for America's economy Joe Biden's Mishandling of the economy will be a Major contributing factor to the Economic recession predicted to hit the Nation soon the warning signs are Already visible and it's not hard to see That the country's problems have more to Do with the present administration's Ineptitude than external factors America's citizens can only brace Themselves for the hard times ahead as They anticipate the worst case scenario Let's continue this conversation in the Comments below for the next News Network
I'm Elijah Shafer have a good night Thanks for watching that report and the Latest survey of Americans nearly half Of them also selected eating healthier Exercising more or losing weight as Their primary goal in the near future in Spite of the fact that 9 out of 10 People who make resolutions are Confident they'll stick to them nearly 80 percent of them are likely to fail to Accomplish them in order to jump start Your New Year resolutions I recommend Starting with this amazing keto powder As one of the easiest ways to help you Achieve your goals regardless of where You are on your health Journey you can Reap the benefits of being in ketosis For weight loss no matter where you are The time is right for you to go to keto With gary.com to get your bag that's Keto with gary.com simply click more to Find the link below to get yours in Addition to saving 51 percent you'll Also receive several bonuses to help you Take control of your health in the new Year so make sure you take advantage of Them if you don't like it you can get Your money back within 60 days of trying It it'll be worth your time to click the Link and you will thank me later for it We'll see you at the next report for the Next News Network I'm Gary franchi You possess the power to impact the Global narrative please share this
Report and to get more videos like this Become a Next News subscriber by Clicking the link below thank you for Watching the next News Network Foreign
