1y ago

The US now has an 85% chance of recession in 2024, the highest probability since the Great Financial Crisis, economist David Rosenberg says

www.businessinsider.com

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'Many similarities to 1999 are starting to appear': Famed economist David Rosenberg breaks down why euphoric sentiment is setting stocks up for historically weak returns over the next year — and shares 6 charts showing just how extreme conditions are February 2021
How to Invest With a 75% Risk of Recession in 2022: Rosenberg March, 2022
David Rosenberg: A bleak outlook for 2023 December, 2022
'Professional Doom Caster forecasts doom.'
- Rosenberg Research has only been around since 2020 as well. Dude had a long career before that working as a chief economist for Merrill Lynch though. He probably has insight most others don't. I'd be curious how his stock purchases align to his doom casting though. I wonder if he actually practices what he preaches.
- But what if this time he’s right? He might be so smart and we all should have listened to him but we didn’t because we’re stupid
Man, they really are hoping for the economy to crash. They are the equivalent to Christians wanting the end times.
- A crash just lets the capitalists buy up more for nothing with their shameful human exploitation hoards from their last trip to the value extraction casino.
  More for the capitalists and less for everybody else. That is humanity's current driving force in practice.
  The capitalist's cruelty and the rest of humanity's deluded acceptance of it really makes climate change look more like salvation than damnation. At best, pain might wake the masses up when their meager subsistence opiates dry up, and at worst, extinction is better than the dominion of cruel sociopaths exploiting and propandizing their own species to self-flagellate for them in perpetuity.
  We don't need another crash sale for them, we need collapse. We need the paper they hoard as symbols or power to be of more value as kindling. This civilization isn't repairable. "But people will suffer!" People are suffering, go to your nearest homeless city in your nearest population center if you believe otherwise, and suffering without hope or end as long as this global economy exists and has its tentacles capturing every world government to serve the capitalists at all other's expense. At least collapse would bring faint hope for a better world that no rational person could have today.
  
  Lighten up, Francis.
He's full of it.
But I thought the economy was doing great by every metric
- Easy to have great metrics when you also control what metrics are reported.
Economists really seem like grifters when different media outlets report on whatever asinine thing they chose to be an expert on that week.
Last year, the talking heads were predicting a 76% chance of recession. Someone seems to be really eager for some relevance.
The only function of economic forecasting is to make astrology look respectable.
These predictions are pathetic.

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