‘Big Short’ investor Michael Burry suggests current economic downturn could be ‘worse than 2008’

Famed investor Michael Burry arguably issued his most serious warning about the current US economy to date in late Thursday — suggesting he is concerned that the ongoing downturn could be worse than the Great Recession. Burry, the chief executive of Scion Asset Management, noted that one of his market analysts said his comments were … Read more

Some industries in Canada are seeing a wave of retirements. Burnout might be why – National

Canada is facing a wave of retirements driven by workers in high-pressure sectors, with an increasing number retiring before they turn 65. A new analysis of labor force survey data by the Canadian Center for Policy Alternatives (CCPA) found that 73,000 more people retired in the year ending August 2022 compared to a year earlier, … Read more

Larry Summers warns global economic risk is approaching pre-Great Recession levels

The current level of risk in world markets is reminiscent of the conditions in 2007 prior to the Great Recession, ex-Treasury Secretary Larry Summers warned Thursday. Summers expressed his concerns a day after the Bank of England was forced to step in to stabilize the UK’s crater economy – an event that some saw as … Read more

Iron Mountain CEO William Meaney ‘prays for inflation’

The CEO of a Boston-based tech company told investors he has “prayed for inflation” because it’s good for his business, according to a report. William Meaney, CEO of data storage and management company Iron Mountain, told Wall Street analysts last week that high prices are boosting the company’s margins. by the news site The Intercept. … Read more

Recession fears put housing plans on hold for 41% planning to buy or sell: Re/Max – National

Many Canadians worried about an impending recession are on the sidelines of the housing market this fall, according to new polls prepared for Re/Max Canada. The real estate brokerage released the poll Wednesday alongside the housing market outlook for the fall, which predicted an ongoing cooling in both prices and sales activity for most markets … Read more

A global recession looks increasingly likely, but Australia has escaped it before

Global stock markets are collapsing on fears of recessions in the US, UK and Europe, and the OECD is actually forecasting recessions in Europe. So is recession inevitable in Australia now? Not at all. The good news is that there are several reasons to believe that Australia could escape a global recession, although it needs … Read more

Consumers are becoming more optimistic about the US economy

CNN — Consumer confidence rose for the second month in a row in September, as moderating gas prices and hoping that inflationary pressures could ease helped improve the collective mood of the nation. The Conference Board reported Tuesday that the baseline index rose to 108 from a revised 103.6 in August, the highest since April. … Read more

Elon Musk says it’s ‘clearly correct’ that the Fed is fueling the US economy

Billionaire Elon Musk backed a prominent Wharton economist who accused the Federal Reserve and its chairman Jerome Powell of completely screwing up their response to the current economic slump. Musk responded to a fiery rant from Wharton professor Jeremy Siegel, who told CNBC’s “Halftime Report” Friday that the Fed’s current policy path is “way too … Read more

Pound bottoms against dollar amid growing recession fears

The pound plunged more than 4.5% to an all-time low after Kwasi Kwarteng vowed to continue with more tax cuts, even as financial markets cast a scathing verdict on the new finance minister’s new tax policy. The sell-off that followed Friday’s release of the government’s “growth plan” — a budget in all but name and … Read more

Is Australia heading for a recession?

Is Australia heading for a recession? On Wednesday, the deputy governor of the Reserve Bank of Australia warned that the outlook for the global economy is not good. “It’s a bit on the cutting edge,” she said. Less than 48 hours later, the Bank of England said Britain was probably already in recession. There are … Read more