Americans should brace for a painful downturn, the billionaire has said.
Amazon founder Jeff Bezos has warned that the US economy may be headed for a recession as surging inflation is causing too much pain.
He expressed this view while retweeting a CNBC interview with Goldman Sachs CEO David Solomon on Tuesday in which the banker warned that he saw a “good chance” of a recession in the US and advised business owners to be cautious and prepare for more market volatility as growth headwinds mount.
“Yep, the probabilities in this economy tell you to batten down the hatches,” Bezos wrote on Twitter in response.
The billionaire has joined a growing chorus of leading investors, executives, and analysts – including JPMorgan Chase CEO Jamie Dimon – who are sounding the alarm over what lies in store for the US economy.
Economists say that inflation remains a persistent problem for the US economy. The current inflation rate of 8.2% is the highest since 1981. Meanwhile, the core US consumer price index (CPI), which excludes food and energy, rose by a record 6.6% year-to-date through September, according to official data released earlier this month.
Earlier this year, Bezos blamed the Biden administration for trying to mislead Americans about inflation, arguing that increasing taxes on corporations and the wealthy wouldn’t reduce consumer costs. He also expressed the belief that the actual reason for inflation was the stimulus policies of the White House, which saw money being injected “into an already over-heated, inflationary economy.”
Well Bezos became very wealthy during lockdown and he cant expect this fortune to continue for ever. Quantiative easing pushed dollars as well as demand while supply was going in the drain. The economies that created money from thin air has to regress towards what their economy is worth eventually in terms of their real productivity.
can’t get over how much he looks like Iovine ..
Oh really? Bozo Bezos who spent $70 million per episode on `Girl power of the Ring` and didnt say `I gave you 70million and you give me this? were did my f**king money go!` is giving out economic advice? LMFAO.
“It’s Not Looking Good” – Martin Armstrong Warns There May Not Be A 2024 Election
https://www.zerohedge.com/political/its-not-looking-good-martin-armstrong-warns-there-may-not-be-2024-election
…all of this from a man who’s Amazon.com warehouses won’t even allow employees to have a pee break!
Bezos (sounds like the brother to ‘Bozo the Clown’ in the U.S.) models himself after the false character in the Star Trek TNG Jean-Luc Picard, complete with a bald head, and a flight into space!
Zero hedge is usually 97% correct, and there probably won’t be a 2024 El-ection, and in it’s place will be an uprising and civil war due to lockdowns, climate emergencies, and more vaccines as per the outcome of the CIA’s asseted ‘Deagel Report’ and the Georgia Guidestones!