Announcement

Collapse
No announcement yet.

America's CFOs are bracing for a 2020 recession

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • America's CFOs are bracing for a 2020 recession

    The longest economic expansion in modern American history could come to a screeching halt right before the 2020 presidential election.

    At least that's what US finance leaders fear. Nearly half (48.1%) of chief financial officers in the United States are predicting the American economy will be in recession by the middle of next year, according to the Duke University/CFO Global Business Outlook survey released on Wednesday. And 69% of those executives are bracing for a recession by the end of 2020.
    https://www.cnn.com/2019/06/12/econo...uke/index.html
    01000010 01100001 01100001 00100000 01110111 01100101 01100101 01110000 00100000 01100111 01110010 01100001 01101000 01101110 01100001 00100000 01110111 01100101 01100101 01110000 00100000 01101110 01101001 01101110 01101110 01111001 00100000 01100010 01101111 01101110 01100111

  • #2
    The trouble is that everyone I know has been bracing for that recession for about 3 years now. I've attended numerous corporate functions where some economist is telling everyone that the economy cannot continue to grow like it has and a correction is just around the corner. It hasn't happened.

    Pete (knows it's largely inevitable, but the trick is to know exactly when it will happen)

    Comment


    • #3
      Originally posted by Plezercruz View Post
      The trouble is that everyone I know has been bracing for that recession for about 3 years now. I've attended numerous corporate functions where some economist is telling everyone that the economy cannot continue to grow like it has and a correction is just around the corner. It hasn't happened.

      Pete (knows it's largely inevitable, but the trick is to know exactly when it will happen)
      We have a very lucrative profit sharing bonus at the end of the year. They keep it constantly updated and right now it's tracking at an all-time high, but we have been flat out warned in no uncertain terms not to expect it to stay like that or to even expect it at all. It has been zero before. It's going to wreck a lot of people's Christmas this year (that's when they pay it out).

      We broke every single record last year by quite a large margin. That's what happens right before a bubble pops.

      Steve (thinks we are in for a large correction this year)
      "Democracy is a form of worship. It is the worship of jackals by jackasses." H.L. Mencken

      Comment


      • #4
        Well, there are factors that indicate a correction must happen. We've had some 11 years of growth now. Historically 10 is the max. We're overdue. The Trump tax cuts artificially boosted GDP. The slowdown from that effect running out must come soon. Trade wars slow growth....that too portends that we have to correct. And the unspoken boom of the Trump White House slowing corporate regulation enforcement to halt is now 3 years old...that boost has come and gone. You even have the threat of war in the middle east again...that always drops our economy a bit. All the factors are there.

        Balance that against factors that might bouy the economy a little longer. Remarkably, the Fed is discussing lowering interest rates. Crazy, I know, but they might just do it. Unemployment is effectively zero. Consumer confidence is high. Inflation is still somewhat low. This might still last a little longer...

        Pete (isn't betting hard in either direction)

        Comment


        • #5
          Morgan Stanley’s Business Conditions Index, which captures turning points in the economy, fell by 32 points in June, to a level of 13 from a level of 45 in May. This drop is the largest one-month decline on record and the lowest level since December 2008 during the financial crisis, according to the firm.

          https://www.cnbc.com/2019/06/13/a-mo...most-ever.html

          "Democracy is a form of worship. It is the worship of jackals by jackasses." H.L. Mencken

          Comment


          • #6
            https://finance.yahoo.com/news/stock...064200201.html

            Stocks - Nasdaq Futures Tumble as Broadcom Sounds the Alarm

            U.S. futures fell on Friday after weak Chinese industrial data and lowered forecasts from Broadcom (NASDAQ:AVGO) sent fresh tremors through stock markets that are increasingly afraid of a global downturn.

            China’s industrial output growth slowed to its slowest rate in over 17 years in May, as the world's second-largest economy showed signs of weakening under U.S. trade pressure.

            Meanwhile, Broadcom (NASDAQ:AVGO) slumped 8.7% in premarket trading after forecasting a slowdown in demand for chips, citing the trade war between the U.S. and China. Most chipmakers have been predicting a stronger second half to the year after a weak first half, and Broadcom's warning damages one of the biggest props to sentiment for the sector.
            Pete (notes that this is Trump's tariffs having their desired effect, noted in that middle paragraph, but they are starting to hurt us too)

            Comment


            • #7
              Now I finally know where Progressive is putting its money instead of paying claims!

              skooly (isn't really surprised)
              "I guess I just hate the fact there is public property at all." - Mr. Raceboy.

              Comment

              Working...
              X