{"id":1563224,"date":"2022-07-20T16:19:39","date_gmt":"2022-07-20T20:19:39","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1563224"},"modified":"2022-07-20T16:19:46","modified_gmt":"2022-07-20T20:19:46","slug":"economists-economic-downturn-almost-inevitable","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/economists-economic-downturn-almost-inevitable\/","title":{"rendered":"Economists: Economic downturn almost inevitable"},"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\">10<\/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%2Feconomists-economic-downturn-almost-inevitable%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=1563224&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--><div id=\"attachment_2728581\" class=\"wp-caption aligncenter\"><img decoding=\"async\" aria-describedby=\"caption-attachment-2728581\" class=\"size-full wp-image-2728581\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/MAIN.jpg\" alt=\"FILE PHOTO: Plastic letters arranged to read \" Inflation \/><\/p>\n<p id=\"caption-attachment-2728581\" class=\"wp-caption-text\">Plastic letters arranged to read \u201cInflation\u201d are placed on U.S. Dollar banknote in this illustration taken, June 12, 2022. (REUTERS\/Dado Ruvic\/Illustration)<\/p>\n<\/div>\n<h5>OAN NEWSROOM<br \/>UPDATED 1:05 PM PT \u2013 Wednesday, July 20, 2022<\/h5>\n<p>A rising number of economists believe the US and Western Europe will not be able to avoid an economic downturn. According to reports Wednesday, America is experiencing a decline in real disposable incomes, industrial production and real sales while real monthly GDP is also down.<\/p>\n<p>Economists have pointed out that US President Joe Biden is highlighting low unemployment as an argument against recession, but Japan had recessions at times of low unemployment. Investors added, big banks are already preparing for the worst. The US government will released its advance estimate of second-quarter GDP on July 28 and if it comes in negative it means America is in a recession.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Biden&#8217;s reckless policies are destroying our economy.<\/p>\n<p>Bank of America analysts say that a severe recession will be needed to cool inflation.<\/p>\n<p>\u2014 Sen. Marsha Blackburn (@MarshaBlackburn) <a href=\"https:\/\/twitter.com\/MarshaBlackburn\/status\/1547541974244364288?ref_src=twsrc%5Etfw\">July 14, 2022<\/a><\/p>\n<\/blockquote>\n<p>To add to the looming downturn, economists have also warned US housing prices could crash 15 to 20 percent amid fears of impending recession. According to Moody\u2019s Analytics, 96 percent of America\u2019s largest real estate markets are overvalued, which reduced housing affordability in recent years.<\/p>\n<p>Meanwhile, runaway inflation and shrinking household incomes are preventing Americans from buying homes. Economists have said the inflation crisis may cause a housing market crash, which could lead to a broader economic crisis.<\/p>\n<blockquote>\n<p><strong>\u201cAs we\u2019re seeing inflation on mortgage rates and interest, we are also seeing increases in construction costs that are really throwing the market off,\u201d explained Jerry Howard, CEO of the National Association of Home Builders. \u201d What I\u2019m really worried about is historically housing has led us into every recession since World War II.\u201d<\/strong><\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">President Biden and the Fed\u2019s inflation denial worsened inflation and pushed the economy into a recession.<\/p>\n<p>American families and workers are finding out that Biden\u2019s economy is a cruel economy. <a href=\"https:\/\/t.co\/ynJB0SP3Yr\">pic.twitter.com\/ynJB0SP3Yr<\/a><\/p>\n<p>\u2014 Ways and Means GOP (@WaysandMeansGOP) <a href=\"https:\/\/twitter.com\/WaysandMeansGOP\/status\/1549121932116873220?ref_src=twsrc%5Etfw\">July 18, 2022<\/a><\/p>\n<\/blockquote>\n<p>Economists warn supply chain shortages, rising costs of construction and increasing costs of loans may all lead to a massive crisis in the housing market.<\/p>\n<h4>MORE NEWS:\u00a0<a href=\"https:\/\/www.oann.com\/restoring-election-integrity-with-clouthub\/\">Restoring Election Integrity With CloutHub<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Plastic letters arranged to read \u201cInflation\u201d are placed on U.S. Dollar banknote in this illustration taken,<\/p>\n","protected":false},"author":79,"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-1563224","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\/1563224","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\/79"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1563224"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1563224\/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=1563224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1563224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1563224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}