There's no doubt our economy is tanking. I'm thinking that we'll likely see a depression rather than a recession.
‘We think a hard landing will ultimately be unavoidable’: How to prepare your finances for another recession There’s a 35% chance of a downturn in the next 24 months, Goldman Sachs forecasts Two years after the short, sharp pandemic-related recession, Wall Street is once again warning of a new recession on the horizon.
That’s not a lot to go on, but financial planning experts say it ought to be enough to prompt people to come up with their own contingency plans. That’s especially so, considering the personal finance scares that came earlier in the pandemic.
The COVID-19-induced recession formally started February 2020 and ended April 2020, but policymakers and regular people are still grappling with the after-effects.
The Federal Reserve is trying to tame inflation, now at four-decade highs. The concern is key interest rate hikes rising from near 0% and tighter monetary policies could crimp consumer demand to the point that the economy potentially — emphasis on potentially — takes a hard-landing thud into another recession.
There’s a 15% chance of a recession happening in the next 12 months, Goldman Sachs GS, -0.72% forecasters said this week. The chances climb to 35% in the coming 24 months, they wrote.
At Deutsche Bank DB, 1.20%, researchers said, “We think a hard landing will ultimately be unavoidable by late ‘23/early ‘24 after an aggressive series of Fed hikes over the next 18 months.” And that’s even with the good financial shape that many consumers are in now, the note added.............
https://www.marketwatch.com/story/we-think-a-hard-landing-will-ultimately-be-unavoidable-how-to-prepare-your-finances-for-a-recession-11650552800?mod=home-page
