{"id":1371190,"date":"2022-03-11T12:21:17","date_gmt":"2022-03-11T17:21:17","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1371190"},"modified":"2022-03-11T12:21:23","modified_gmt":"2022-03-11T17:21:23","slug":"nolte-chances-of-american-recession-spike-to-35","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nolte-chances-of-american-recession-spike-to-35\/","title":{"rendered":"Nolte: Chances of American Recession Spike to 35%"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnolte-chances-of-american-recession-spike-to-35%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1371190&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p class=\"subheading\">To the surprise of no one with any knowledge of history, most especially the Jimmy Carter era, the risk of a recession just jumped to <a href=\"https:\/\/web.archive.org\/web\/20220311150017\/https:\/edition.cnn.com\/2022\/03\/11\/investing\/premarket-stocks-trading\/index.html\">35 percent<\/a>, according to Goldman Sachs:<\/p>\n<blockquote>\n<p>Goldman Sachs has downgraded its forecast for US economic growth in 2022. It now sees little to no growth during the first three months of the year.<\/p>\n<p>Goldman\u2019s economists, led by Jan Hatzius, said the chance of a recession in the United States over the next year has risen as high as 35%.<\/p>\n<p>\u201cRising commodity prices will likely result in a drag on consumer spending, as households \u2014 and lower-income households in particular \u2014 are forced to spend a larger share of income on food and gas,\u201d they told clients on Thursday.<\/p>\n<\/blockquote>\n<p>Well, derrrr.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>Even before the Russian invasion of Ukraine, I\u2019d been predicting a recession. You cannot have this kind of inflation, especially with energy prices, and expect the economy to grow. For the Biden-impaired, allow me to explain\u2026<\/p>\n<p>Prices go up. People stop spending money. Fewer goods and purchases are made. The economy doesn\u2019t grow. It really is that simple.<\/p>\n<p>Here\u2019s <a href=\"https:\/\/web.archive.org\/web\/20220311150017\/https:\/edition.cnn.com\/2022\/03\/11\/investing\/premarket-stocks-trading\/index.html\">the spin<\/a> from the same White House that lied to us about inflation being transitory: \u00a0\u201cIn an\u00a0interview on CNBC\u00a0Thursday, Treasury Secretary Janet Yellen emphasized that the job market remains very strong and American households are in \u2018good financial shape.&#8217;\u201d<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<div id=\"attachment_20191622\" class=\"wp-caption alignnone\"><a href=\"https:\/\/media.breitbart.com\/media\/2022\/03\/GettyImages-1805453.jpg\"><\/a><\/p>\n<p class=\"wp-caption-text\"><em>The Jimmy Carter era saw surging gas prices matched only by rampant inflation. (Hulton Archive\/Getty)<\/em><\/p>\n<\/div>\n<p>But what happens to the job market when people stop purchasing goods and services?<\/p>\n<p>Goldman Sachs isn\u2019t the only outfit fearing a recession. Moody\u2019s chief economist recently <a href=\"https:\/\/web.archive.org\/web\/20220311150017\/https:\/edition.cnn.com\/2022\/03\/11\/investing\/premarket-stocks-trading\/index.html\">wrote<\/a>, \u201cThere is the growing threat that rising inflation will overwhelm the nation\u2019s strong economic recovery, resulting in a recession.\u201d<\/p>\n<p>As someone who remembers the 1970s, the d\u00e9j\u00e0 vu is overwhelming.<\/p>\n<p>Other than the gas lines, my most vivid memory is the unsettling shock people experienced at the sudden price spikes. Every day, you\u2019d pass a gas station or supermarket and see the prices jump.<\/p>\n<p>Thankfully, at least not yet, there are no gas lines, but the price jumps have returned with a vengeance.<\/p>\n<figure id=\"M-ROS-B3\" class=\"a8d adSo\"><\/figure>\n<div id=\"attachment_20191694\" class=\"wp-caption alignnone\"><a href=\"https:\/\/media.breitbart.com\/media\/2022\/03\/GettyImages-1222808141.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-20191694\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/03\/GettyImages-1222808141-1024x699-1.jpg\" alt=\"\" width=\"990\" height=\"676\" \/><\/a><\/p>\n<p class=\"wp-caption-text\"><em>A sign by a road urging drivers to save fuel during the U.S. oil crisis of 1974-74. (Archive\/Getty Images)<\/em><\/p>\n<\/div>\n<p>And it\u2019s not just the increased cost that worries people; even more so, it\u2019s the instability, the feeling that something is terribly, terribly wrong. Above all, people crave stability. Stability is the foundation of what makes America <em>America.<\/em><\/p>\n<p>Listen, I\u2019m, no millionaire, but I make a pretty good living and had some projects in mind\u2026 I was thinking of remodeling a bathroom, installing new carpeting, taking a couple long camping trips\u2026 Now, I\u2019m not so sure. The coronavirus didn\u2019t stop me from doing anything, including travel, but the inflation is giving me a wait-and-see attitude.<\/p>\n<p>Everything feels like it\u2019s in flux, is up in the air, and most definitely not under control. In that situation your instincts tell you to freeze in place, hunker, and wait it out.<\/p>\n<p>Just the other day, I did some grocery shopping and was startled to see what inflation had done to prices tin just a few weeks. Five dozen eggs jumped from $5.00 top $7.50. A sleeve of hamburger patties jumped from $10.50 to $12.75. Don\u2019t even get me started on gas prices.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">U.S. inflation hit a 40 year high in November, worrying news for the Federal Reserve and the Biden White House. <a href=\"https:\/\/t.co\/2g9tKCA6VF\">https:\/\/t.co\/2g9tKCA6VF<\/a><\/p>\n<p>\u2014 Breitbart News (@BreitbartNews) <a href=\"https:\/\/twitter.com\/BreitbartNews\/status\/1469309236781981697?ref_src=twsrc%5Etfw\">December 10, 2021<\/a><\/p>\n<\/blockquote>\n<p>It\u2019s all so unnerving.<\/p>\n<p>Sadly, it\u2019s also unnecessary and deliberately inflicted on us by His Fraudulency Joe Biden. All Biden has to do to offer the American people some relief, especially the working class and poor, is restart the Keystone Pipeline and encourage domestic energy exploration. He could do that tomorrow and because the cost of energy affects the cost of everything, the difference would be felt throughout the economy.<\/p>\n<p>But Biden won\u2019t do that because he has no empathy for everyday people.<\/p>\n<p><strong><em>Follow John Nolte on Twitter <\/em><\/strong><a href=\"https:\/\/twitter.com\/NolteNC\"><strong><em>@NolteNC<\/em><\/strong><\/a><strong>. <em>Follow his Facebook Page <\/em><\/strong><a href=\"https:\/\/www.facebook.com\/JohnNolteNC\/?skip_nax_wizard=true\"><strong><em>here<\/em><\/strong><\/a><strong><em>.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>To the surprise of no one with any knowledge of history, most especially the Jimmy Carter era, the risk of a recession just jumped to 35 percent, according to Goldman<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1371190","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1371190","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1371190"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1371190\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1371190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1371190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1371190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}