Lindsey Piegza, Chief Economist at Stifel, talks about her outlook for 2023 on Bloomberg Surveillance.
#markets #recession #labor #gdp #recession2023 #2023
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The year 2023 is rapidly approaching, and many economists and financial experts are voicing concerns about the potential for a recession. The causes for this looming economic downturn are complex and varied, but one element that is particularly worrying is the issue of Piegza.
Piegza, short for Personal Income and Employment Gap Zero Acceleration, is a term that refers to a trend in the US economy in recent years. Essentially, what it means is that the income gap between high-earning and low-earning individuals has become almost completely stagnant, with virtually no acceleration in either direction. This means that while some people are doing very well financially, a large percentage of the population is struggling to make ends meet.
This is a major problem for a number of reasons. For one thing, it means that there is less money circulating in the economy overall, which can lead to decreased spending, investment, and growth. Additionally, it can also lead to increased debt, as people who are not earning enough to cover their basic expenses may be forced to rely on credit cards, loans, or other forms of borrowing.
Looking ahead to 2023, there are several factors that suggest that the Piegza trend will continue unabated, and could potentially play a significant role in sparking a recession. One major issue is the ongoing COVID-19 pandemic, which has had a devastating impact on the US economy and has disproportionately affected low-income workers. With many businesses struggling to stay afloat and high levels of unemployment, it seems unlikely that the income gap will shrink anytime soon.
Another factor to consider is the broader political and social landscape in the US. There is ongoing debate about issues like taxation, income inequality, and government spending, all of which could have a major impact on the economy in the coming years. Depending on how these debates play out, it is possible that the income gap could become even more pronounced, further exacerbating the Piegza trend.
Overall, then, it is not difficult to see why many experts are concerned about the potential for a recession in 2023. While there are certainly some positive signs in the economy, such as a rebound in the stock market and increased consumer spending, the underlying structural issues around income inequality and Piegza remain deeply troubling. As we move closer to the new year, it will be important for policymakers, business leaders, and individuals alike to stay vigilant and take steps to address these issues before they spiral out of control.
The only thing you can do is make sure you're ready and plan accordingly because recessions are a natural part of the economic cycle. I began my career during a recession (2009). Aerial acrobatics on cruise ships was my first job out of college. I've developed my own business, am a vice president at a large corporation, own three rental homes, invest in stocks and businesses, and have seen a growth in my net worth of $$k over the past four years.
3:56 I thought it was boring until that guy's comment comparing the probability of the inflation dropping at 2% with the England soccer team winning a title again. That's comedy !
The lights under her neck
Making her look like a ghost
My Polish godmother's last name was Piegza (she died in 2014 at the age of 95). This is not a common surname in Poland, could you be related to her, Lindsey?
Can you mute that sick old man, when the guests are speaking.. lol wth, what kind of quality is bloomberg
Tom K needs to mute his mic while others are speaking.
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Tom really does love to hear himself talk. cough Right cough Right cough Right
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