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YoyofanaticΒ inΒ Β 
Data AnalystΒ 4 months ago

Economy is gonna crash soon. Expect more layoffs.

There is an 80% chance the U.S. will fall into a recession, according to Johns Hopkins University's Steve Hanke, who blames the Federal Reserve for "exploding" the money supply. The central bank's failure to manage inflation by carefully reducing the amount of money it poured into the economy during the pandemic has seen supply slow too suddenly, says Hanke, who predicts a recession in 2023. His comments come as a September CNBC survey of economists, fund managers and strategists put the chance of the U.S. slipping in recession over the next year at 52%.

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SamwiseGSoftware EngineerΒ 4 months ago
A recession does not necessarily mean fewer jobs - there is a crap ton of hiring right now. The recession is likely more white-collar focused so I would also expect some layoff announcements here. The sad thing is that the recession is virtually 100% Fed induced. And I have a hard time wrapping my head around anyone working in government thinking "this is good for the country." Interesting to see how deep and how long this one will be. One report said it could take 10 years to get back to 2% inflation. TEN YEARS.
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