{"id":1703209,"date":"2022-10-20T06:30:14","date_gmt":"2022-10-20T10:30:14","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1703209"},"modified":"2022-10-20T08:48:17","modified_gmt":"2022-10-20T12:48:17","slug":"jeff-bezos-issues-stark-warning-about-the-economy-batten-down-the-hatches","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/jeff-bezos-issues-stark-warning-about-the-economy-batten-down-the-hatches\/","title":{"rendered":"Jeff Bezos Issues Stark Warning About the Economy: \u201cBatten Down the Hatches\u201d"},"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\">24<\/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%2Fjeff-bezos-issues-stark-warning-about-the-economy-batten-down-the-hatches%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=1703209&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>Amazon founder <a href=\"https:\/\/www.theepochtimes.com\/t-jeff-bezos\">Jeff Bezos<\/a> has joined the ranks of corporate leaders who are sounding the alarm on the U.S. economy, warning of turbulence ahead as <a href=\"https:\/\/www.theepochtimes.com\/t-recession\">recession<\/a> risks rise.<\/p>\n<p>In an <a href=\"https:\/\/twitter.com\/JeffBezos\/status\/1582517044020273152?s=20&#038;t=hrd1guGCU2hsUVw8OQrKeg\">Oct. 19 tweet<\/a>, Bezos shared footage of Goldman Sachs CEO David Solomon predicting more market volatility in the pipeline and warning it\u2019s likely the U.S. economy will tip into a recession.<\/p>\n<p>\u201cYep, the probabilities in this economy tell you to batten down the hatches,\u201d Bezos wrote, commenting on Solomon\u2019s remarks.<\/p>\n<p>The Goldman Sachs chief told CNBC in an <a href=\"https:\/\/www.cnbc.com\/2022\/10\/18\/goldman-ceo-david-solomon-says-theres-a-good-chance-of-a-recession-and-so-its-time-to-be-cautious.html\">interview on Oct. 18<\/a> that as the Fed fights <a href=\"https:\/\/www.theepochtimes.com\/t-inflation\">inflation<\/a> with aggressive rate hikes, the odds of a recession are relatively high.<\/p>\n<p>\u201cI think you have to expect that there\u2019s more volatility on the horizon,\u201d Solomon told the outlet. \u201cNow, that doesn\u2019t mean for sure that we have a really difficult economic scenario. But on the distribution of outcomes, there\u2019s a good chance that we have a recession in the United States.\u201d<\/p>\n<p>Even though the U.S. economy met the informal definition of a recession when it recorded two consecutive quarters of negative gross domestic product (GDP) growth earlier this year, the recession shot-callers at the National Bureau of Economic Research (NBER) have yet to officially declare it as such.<\/p>\n<p>Solomon added that the looming downturn was making the operating environment for businesses more precarious.<\/p>\n<p>\u201cI think it\u2019s a time to be cautious, and I think that if you\u2019re running a risk-based business, it\u2019s a time to think more cautiously about your risk box, your risk appetite,\u201d Solomon said.<\/p>\n<p>Other corporate leaders have also sounded the alarm on the U.S. economy.<\/p>\n<p>JPMorgan Chase CEO Jamie Dimon recently warned that the United States is likely going to fall into a recession in the next six to nine months, adding\u00a0that the Fed \u201cwaited too long and did too little\u201d and is now \u201cclearly catching up.\u201d<\/p>\n<p>An economic model run by Bloomberg Economics <a href=\"https:\/\/www.theepochtimes.com\/odds-of-recession-rise-to-100-percent-despite-bidens-claims-of-a-strong-economy-bloomberg-economics_4801318.html\">recently boosted<\/a> its estimate for the probability of a U.S. recession in the next 12 months from an earlier projection of 65 percent to a full 100 percent.<\/p>\n<p>The dismal odds stand in sharp contrast to the Biden administration\u2019s upbeat tone on the economy ahead of the midterms.<\/p>\n<p>President Joe Biden, by contrast, has mostly sought to portray the economy in optimistic terms. During a visit to Oregon on Saturday, for example, he talked up the economy, saying it\u2019s \u201cstrong as hell.\u201d<\/p>\n<p>Biden also downplayed the cost-of-living crunch bedevilling American households, falsely claiming inflation is \u201cworse off everywhere else than it is in the United States.\u201d<\/p>\n<p>In September, U.S. inflation hit an annual 8.2 percent, a higher figure than in some other advanced economies.\u00a0Canada (7 percent), Australia (6.1 percent), France (5.6 percent), and Switzerland (3.3 percent) are examples of countries that in September reported lower rates of inflation.<\/p>\n<p>The president has acknowledged, however, that there\u2019s a chance the economy will tumble into a recession, though he believes it\u2019s \u201cvery slight.\u201d<\/p>\n<p>\u201cLook, it\u2019s possible. I don\u2019t anticipate it,\u201d Biden told CNN in an interview that<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Amazon founder Jeff Bezos has joined the ranks of corporate leaders who are sounding the alarm on the U.S. economy, warning of turbulence ahead as recession risks rise. In an Oct. 19 tweet, Bezos shared footage of Goldman Sachs CEO David Solomon predicting more market volatility in the pipeline and warning it\u2019s likely the U.S. &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1894904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1703209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1703209","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=1703209"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1703209\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1894904"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1703209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1703209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1703209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}