The Recession Is Here And It's Worse Than We Thought! - Marc Faber Last Warning

The Recession Is Here And It's Worse Than We Thought! - Marc Faber Last Warning

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In today's world, there's plenty of uncertainty, whether it's geopolitical, economic, social, or environmental. In such uncertain times with high stakes, seeking advice from those with deep historical knowledge and extensive experience in the market can be very wise. Dr. Marc Faber, Editor and Publisher of 'The Gloom, Boom & Doom Report,' delves into the future challenges confronting the US economy. These difficulties may arise in the distant future, five or ten years from now, or they could surface sooner. Faber suggests that the US economy might already be in a recession.
The soaring US debt, now at a record 34 trillion dollars, is causing alarm due to its potential to impact the global economy severely. This debt amounts to approximately 99% of the nation's GDP. Meanwhile, the inflation rate in the United States had risen to its highest level in more than 40 years in June 2022, prompting the Federal Reserve to increase interest rates to tame prices. Despite these efforts, price growth persisted, reaching 3.2 percent from a year earlier in February, surpassing economists' predictions. Faber noted that a significant portion of the population has experienced a surge in the cost of living, ranging from 5 to 10%, with some credible sources indicating an even higher increase. In light of this situation, Faber cautioned against the wisdom of reducing the FED fund rate.
On the other hand, with the rise in US dollar rates, gold and silver prices continue flirting with the record high on the US Fed rate cut buzz. According to commodity market experts, gold and silver prices are skyrocketing as the market expects the end of a high-interest rate regime in the near term. Faber highlights that markets frequently anticipate future developments. Specifically, the gold and silver markets are reacting to the perceived threat of heightened money printing and future inflation, leading to an upward price trajectory.
Americans will head to the polls in November 2024 to elect the next US president. Ahead of the upcoming US election scheduled for November, President Joe Biden is trailing behind his primary opponent, Donald Trump, in six of the seven battleground states, according to the latest opinion poll. Voters are broadly dissatisfied with the national economy, and there are deep doubts about Biden's capabilities and job performance, according to a survey conducted by the Wall Street Journal. This election year will bring several challenges for investors and politicians alike. Marc Faber believes that voters have chosen leaders who must be up to the job. Most people need to realize how serious our country's financial problems are. Faber says the best solution is one that everyone agrees on.

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