Recession

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Bitcoin Sinks 3% as Markets Brace for Friday’s Jobs Report, Gold Climbs

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On Thursday, the crypto market mirrored the stock market’s downturn ahead of Friday’s anticipated U.S. jobs report. All major U.S. stock indices slipped into the red, with bitcoin (BTC) tumbling 3.6% in the past 24 hours. Meanwhile, gold enjoyed a nearly 1% gain, climbing back above the $2,500 per ounce mark. Recession Fears Loom as … Read more

Polymarket Bets 10% on 2024 US Recession, Analyst Skeptical of Rate Cut’s Impact

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The prediction market Polymarket and CME’s Fedwatch tool suggest that a rate cut during the Federal Open Market Committee (FOMC) meeting in September is highly likely. However, BCA Research’s chief asset allocation strategist, Garry Evans, argues that even if rates are lowered, it won’t stop a recession in the United States. On the flip side, … Read more

UBS Urges Caution Despite Positive US Economic Data

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UBS reported on Friday that U.S. stocks extended their rally as new economic data, including a 1% rise in July retail sales, eased concerns about a potential recession. Despite the encouraging consumer resilience, UBS cautioned that the risk of a significant economic slowdown remains, especially after weaker July jobs data. Investors are advised to wait … Read more

Robert Kiyosaki Advises Preparing for Crash Landing — Says ‘Time to Save Yourself’

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Rich Dad Poor Dad author Robert Kiyosaki has explained why he is preparing for a crash landing. He criticized U.S. leadership, including Vice President Kamala Harris, Treasury Secretary Janet Yellen, and Fed Chairman Jerome Powell, calling them “3-Stooges.” Kiyosaki advised his followers to invest in gold, silver, and bitcoin, emphasizing self-reliance over relying on the … Read more

Peter Schiff Urges the Fed to Raise Rates and Let Markets Crash

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Economist and gold advocate Peter Schiff has recommended that the Federal Reserve raise interest rates instead of cutting them, even if it leads to a market crash. He acknowledged that this approach would likely cause stocks and real estate to crash, result in a hard landing, and trigger a recession, emphasizing the potential severity of … Read more

Jamie Dimon Says US Recession Still on the Horizon as JPMorgan Increases Forecast

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JPMorgan Chase CEO Jamie Dimon reiterated his belief that a recession remains the most likely outcome for the U.S. economy. Dimon pointed to various uncertainties such as geopolitics, housing, and spending. Meanwhile, JPMorgan has raised the likelihood of a U.S. recession this year. Jamie Dimon Maintains Recession Likely for US Economy JPMorgan Chase CEO Jamie … Read more

Bloomberg’s Mike McGlone: Recession Fears Could Drive Gold to $3,000

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In a recent interview with Kitco News, Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, warned that the current economic situation might surpass the 2008 financial crisis in severity. Drawing comparisons to pre-2008 indicators, McGlone highlighted significant risks of increased stock market volatility and global recession, particularly emphasizing economic challenges in China. He suggested that … Read more

Goldman Sachs CEO: Fed Unlikely to Cut Rates Before September

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Goldman Sachs CEO David Solomon expects the Federal Reserve to delay any emergency rate cuts until at least September despite weak job data, believing the U.S. economy will avoid a recession. Speaking on “The David Rubenstein Show,” Solomon indicated that while investors had anticipated potential rate cuts before the September meeting due to global market … Read more