Posted 1/31/2024, 3:32:00 PM
Economist Warns Looming Recession Could Trigger Major Stock Market Crash
- Recession looming that may trigger a stock market meltdown worse than 2022, says economist David Rosenberg
- Labor hoarding and debt-fueled consumer spending temporarily warded off 2023 recession
- Savings rate plunged, credit card debt rose as consumers spent stimulus money
- Businesses resorted to cutting hours instead of jobs, delaying inevitable layoffs
- Heavy government spending and discounts show economy not as strong as it appears