Posted 2/23/2024, 3:30:00 PM
Strategist Predicts 40% Stock Plunge in 2024 Recession Fueled by Overvalued Market, Weak Economy
- Recession predicted to hit in 2024 by chief strategist Paul Dietrich, sending stocks down 40%
- Market is most overvalued since dot-com bubble in 2001
- Economic indicators show weaknesses in job market and consumer spending
- Credit card debt at record levels, consumers may hit limits soon
- Federal Reserve unlikely to reach 2% inflation target quickly due to pandemic stimulus money still working through economy