Economics

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Risk of ‘Trumpcession’ rising, economists say, as global markets fall (www.theguardian.com)

submitted 1 week ago by MicroWave@lemmy.world to c/economics@lemmy.world

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Summary

Economists warn that the risk of a U.S. recession is rising due to Trump’s unpredictable tariff policies.

Wall Street stocks fell sharply Monday, with the S&P 500 down 2.4%. Trump refused to rule out a recession, instead claiming it’s a “period of transition.”

Goldman Sachs raised recession odds from 15% to 20%, and Morgan Stanley cut its 2025 GDP forecast. Consumer confidence hit a four-year low, and the U.S. trade deficit widened to a record $131 billion.

Analysts say Trump’s tariff policy is fueling uncertainty and economic instability.

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[–] cabron_offsets@lemmy.world 5 points 1 week ago (14 children)

Yes. I have a lot of cash on hand.

[–] artificialfish@programming.dev 1 points 1 week ago (6 children)

Worthless. Buy gold.

[–] jsomae@lemmy.ml 2 points 1 week ago (5 children)

gold has like tripled in price over the past few years though. That's gonna come crashing down right?

[–] artificialfish@programming.dev 1 points 1 week ago* (last edited 1 week ago)

Also we were speaking in terms of currency you can hold in your hand. I’d MUCH (can not emphasize this enough) have gold and silver in hand in my firesafe than USD or BTC. It’s currency not stock. Cash is literally worthless, I don’t keep much at all.

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