Is a recession coming? Is this the calm before the storm? JPMorgan Asset Management Global Head of Fixed Income Bob Michele said that today’s economic climate calls to mind the lull seen in the 2008 financial crisis.
Michele, who manages more than $700 billion worth of assets for JPMorgan, thinks the current financial situation is pretty deceptive. In an interview, he said: “This does remind me an awful lot of that March-to-June period in 2008.”
A recession has been brewing for much of the year. The recent resurgence in the stock market following climbing interest rates and high-profile bank failures is being interpreted by some financial experts as a sign that a recession could be just around the corner. The coming months’ data could end up showing that we are now in that “calm before the storm” phase.
“I’m highly confident that we’re going to be in a recession a year from now,” he added. Michele based his time assessment based on a delay caused by the COVID stimulus funds that continue to have some effect, but he still feels that there is no question where we’re headed.
One reason he feels confident making this prediction is that the Federal Reserve’s actions in the last 15 months have been their most aggressive rate increases in the past four decades. The Fed is also using quantitative tightening, and Michele says we are currently seeing moves that are normally only seen during or just before recessions. He also cited growing unemployment, dropping commodity values, an inverted yield curve and tightening credit as further signs that an economic slowdown is underway. -Natural News
Michele believes regional banks and commercial borrowers will be hit the hardest as the economy unravels. Junk-rated companies that have benefited in the past from low borrowing costs will have a hard time coming to terms with the new funding environment, and those looking for refinances for their floating-rate loans could well end up in trouble.
Jeremy Siegel, a retired finance professor for the University of Pennsylvania’s Wharton School and financial commentator, also expects a recession, although he believes it will be shallow, particularly in light of pressure in the political season to avoid a deep recession.
This next recession will probably be the last one before the rulers attempt to install their endgame program of the central bank digital currency that will fully control the still voting and naive slaves that continue to have a hard time grasping the reality of the prison planet system we are currently shackled to.
Article cross-posted from SHTF Plan.
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Printing wealth what they please for over a hundred years has gotten us to this point. So yes, to answer you question something HUGE is coming and will be related to the mark of the beast. Get your house in order. God or mammon?