While 2/3 of American CFOs see the storm clouds gathering of another recession within the next 18 months, almost 87% say the recession will strike by the first quarter of 2021. Even though the timing is off, one thing is clear: American CFOs are warning the public to prepare for another recession.
According to the latest Duke CFO Global Business Outlook Survey, released Wednesday, 67% of those surveyed predicted the U.S. economy would be in recession by the third quarter of 2020, and 84% believe a recession will have begun by the first quarter of 2021. The survey generated responses from more than 1,500 chief financial officers, including 469 from North America, and additionally showed that thirty-eight percent of respondents predicted a recession by the first quarter of next year.
John Graham, finance professor the Fuqua School of Business at Duke University and director of the survey, told MarketWatch that while CFOs are not quite as pessimistic as they were three months ago, it is unusual in the history of the survey for such a large share of respondents to predict a recession just 16 months from now.
“The recession predictions are closer than usual, with a greater magnitude” of respondents indicating recession fears of an economic meltdown, Graham said. Last quarter’s survey showed a greater degree of pessimism, with nearly half of respondents predicting a recession by the end of 2019. But that’s to be expected as consumer confidence rose slightly.
Graham also said that there is a very clear trend of deteriorating optimism among American CFOs, as the share of executives surveyed who have grown more optimistic about the U.S. economy has fallen from 53.3% a year ago to 24.1% today. And their pessimism surrounding the economy is well deserved.
We are in a credit bubble the likes of which the world have never seen. One wrong move, one small ripple could make a massive tsunami that could quickly spiral out of control impoverishing millions, if not billions around the globe. Consider beginning to prepare now for what so many people already know is inevitable.
The Prepper’s Blueprint will walk even the beginner through how to prepare for any situation that arises. Financial preparation is easy enough, but it’s difficult at the same time. Paying off your debts is the best way to survive and even thrive during an economy that’s melting down around you – especially since the globe is in a debt bubble of apocalyptic proportions.
“If we have learned one thing studying the history of disasters, it is this: those who are prepared have a better chance at survival than those who are not.” -Tess Pennington, The Prepper’s Blueprint
You could argue it’s already here.
Some parts of the country have never recovered from 2007-08.
I’m in the Financial Industry, back in 2008 when the crash happened, I did not feel any paid until about 2011 and 2012. People has some cushion to keep their businesses open, then finally crashed a few years later. Recession depression, depends on how deep your pockets and how prepared you can be to offset any crisis, or feel the pain for years if unprepared. Do death do you part us. See ya.. Get off their grid and independent is not an overnight task. it takes years. get busy folks. You have been warned for years on here. Are you working your plan? Do you even have a plan? Is your homestead set up and fully efficient off the grid? No Plan is a Plan to Fail!!
Meant to say, I did not feel any “PAIN” until about 2011 & 2012.
Right now City Dwellers need to be listing all of their useless crap on Craigslist to sell and have yard sales to get rid of it all. You people can sell your belongings not or abandon them in this coming crisis. Reduce your loads and remain light, for an easy escape when the hoards and gangs take over entire cities, then Rrape and pillage block by block.
TSB, I will ask you again, have you had any luck patenting your land yet? Thanks.
Same old song and dance we’ve heard a thousand times. Yelling fire in a theatre every few days is getting old. There should be an ass beating for screaming a time line that’s false. A ass beating would do these people some good. They’ll pull the plug somethime between now and the election to hurt Trump. If I’m wrong y’all come stomp the shit out of me.
Anon, That’s why Trump is trying to replace the entire Federal Reserve Board of Directors ASAP… It plays a key manipulative role in economic stability and instability.
Agree…. No one knows, when the next reession will hit. Like the markets, it’s a reflection of humankind, utterly unpredictable. Except in broad generalities. I do believe that Trump was the black swan in politics, not only USA but globally. There is a generalized opposition to globalists ….The populist movement….Le Pen = France. Orban = Hungary.
“State of the Nation2012 dot com” has a good article illuminating how Trump is basically a hostage in his own white house. One time he appeared drugged in a press conference, and he doesn’t drink. The so-called “envelope affair” at Bush’s funeral was Trump’s offer not to go after them legally if they truced with him. They have declared a truce, but the rest of the Deep State has not.
I believe it. He’s not likely to accomplish anything from now on. If he does, they’ll shut him down immediately. If he tries to arrest SOROS, they shut hi down immediately. The secret servive and even his own bodyguards would not be trustworthy.
He’s a good man, but he is one man versus the whole deep state. Only a revolution, a secession would work to gain us OUR FREEDOM, with Trump transferring his position as POTUS to, say, Texas. He would be giving up all of his wealth in NYC and Washington held territory. I’m not saying this will happen, but it’s the only way that the deep sate could be defeated. Red States would have to seceed fro Blue States.