Key Advisors Wealth Management co-founder and CEO Eddie Ghabour tells ‘Varney & Co.’ the recession is accelerating at a ……(read more)
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Recession is officially underway: Eddie Ghabour
The global economy has taken a significant hit as the COVID-19 pandemic continues to wreak havoc around the world. The effects of the virus have been felt in every corner of the globe, and now, according to financial advisor Eddie Ghabour, the recession is officially underway.
Eddie Ghabour, the co-founder of Key Advisors Group, has been closely monitoring the economic landscape and has recently highlighted the alarming signs indicating that a recession is imminent, if not already here. Ghabour believes that the world has been hit by a perfect storm of events that have led us into a downturn that will be difficult to recover from.
The initial shock came from the outbreak of the COVID-19 virus, which prompted governments worldwide to enforce widespread lockdown measures in an effort to contain its spread. This led to a sudden halt in economic activity, with businesses shutting their doors, millions of people losing their jobs, and stock markets plummeting at unprecedented rates. This abrupt stop in economic growth has sent shockwaves through the global economy, making the recession a bleak reality.
Ghabour points out that the overreliance on the service sector is also contributing to the severity of the recession. With the lockdown measures and social distancing guidelines, many industries that rely heavily on face-to-face interactions, such as tourism, hospitality, and retail, have been hit the hardest. As a result, millions of people have experienced job losses, reduced hours, or significant decreases in income.
Furthermore, the oil price war that erupted between Russia and Saudi Arabia has had a devastating impact on the global oil industry. The sharp decline in demand coupled with the oversupply of oil has led to historically low oil prices. This has not only affected the oil-producing countries but has had ripple effects on other sectors as well, dragging down the overall global economy.
Ghabour stresses that the road to recovery will be long and challenging. Governments and central banks have implemented various stimulus packages and monetary policies to mitigate the economic damage caused by the pandemic. However, the uncertainty surrounding the duration and severity of the virus makes it difficult to determine the effectiveness of these measures.
Moreover, the consequences of the recession will be far-reaching, and it will take time for the economy to stabilize and regain its previous strength. Ghabour cautions investors and individuals to brace themselves for more tough times ahead, as it is expected that the global economy will take years to fully recover.
In conclusion, Eddie Ghabour’s assessment of the current economic status is a stark reminder of the challenging times we are facing. The COVID-19 pandemic has undoubtedly pushed the global economy into a recession, and its aftermath will continue to impact businesses and individuals for years to come. It is crucial for governments, businesses, and individuals to adapt and navigate through these difficult times, with a focus on long-term stability and recovery.
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in US.
I have been saying for a while now on my channel that we have yet to hit the bumpy road we should have been on quite some time ago, I am happy to see it is now panning out. Why? Because the market volatility is only presenting OPPORTUNITY!
Good news seeing America DECOMPOSE rapidly!
Given the situation, I think we need to start seeing videos on "How to survive the present recession." In reality, it's a total failure. I was amazed that some people could still make more than $408k in a short amount of time. If that's still the situation, could someone explain how?
Idiots imo we been in a full blown recession for 13 months now open your eyes moron
Yup.just want to thank everyone who helped Joe Biden into office I hope every one of you get exactly what you deserve
The Market have been suffering over the past month, with all the three indexes recording losses in recent weeks. My $400,000 portfolio is down by approximately 20%, any recommendations to scale up my returns before retirement will be highly appreciated.
We've been in a recession for six months. Democrats changed the definition of recession so they can continue gaslighting the uninformed and the intelligence challenged.
the media using buzz words for clickbait?
economy has been in the dumps since the SCAMDEMIC
All it will take is a 1% rise in unemployment, and at this point, that is a certainty.
Oh my gosh, he's right. I just did the calculation, the banks aren't too big to fail, THEY'RE TOO BIG TO EXIST. RUN FOR YOUR LIVES!!! You know in reality like engineering and biology things can be too big to exist. In real capitalist economics it's true too. That's why communists hate capitalism because governments and giant communist banks become too big to exist.
I began accumulating wealth when I started following up my investment properly, The value of expert mentorship cannot be overstated. Without proper mentoring, people tend to make mistakes and loose money. This is why I prefer to invest with Juliann Hart because her methods are unique and extremely profitable-
The way I see it this recession most likely has an external cause. The United States is losing influence as a federal currency for the first time in decades. They don't have any more economies to utilize to control their inflation, and less money is being spent on stock and oil trading than previously. They all lend credence to the hypothesis that a new multilateral world order may be in the works.
Stop raising interest rates.
Every day we have a new problem. It's the new normal. At first we thought it was a crisis, now we know it's a new normal and we have to adapt. 2023 so far looks like a year a year of severe economic pain all over the nation.. what steps can we take to generate more income during quantitative adjustment?I can't afford my hard-earned $680,000 savings to turn to dust….
Woohoo, I can't wait. I've been watching the numbers on home foreclosures and it looks like things are picking up. Those 81 million Biden voters are going to have hell to pay now and I can't wait to steal their foreclosed homes at bargain-basement prices. Good times are ahead !
Paper economy fake economy
GOLD PRICE WILL BE IN THE RANGE OF 3K$ – 3.5K$ THIS YEAR + OIL PRICE IS GETTING BACK TO 130$ BB/LS – 140$ BB/LS BECAUSE OF THE SUPER STAGFLATION ROOTED FROM FINANCIAL & MONETARY INFLATION!!!!!!!!!!!!!!!:) —— > AGAIN AND AGAIN CHINA USA EUROPE HAVE TOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO MUCH DEBT TO GO FURTHER FROM HERE AND INDEED BOJ ALSO IS LOSING THE BEST TIMING TO TWEAK ITS YCC MEANS AFTER MARCH 10TH OF THE LAST MEETING OF KURODA THERE WILL BE A HUGE MONEY FLOW GOING OUT OF JAPAN ASSETS MARKET UNLESS THE BOJ TWEAKS ITS YCC AT LEAST!!!!!!!!!!!:)
Cash is king during a recession.
Thanks for the tip
GOP tax cuts for the wealthy have never boosted the US economy. Between 1953 and the present, 10 of 11 recessions began under Republican presidents. Since 1933, the US economy has grown at an annual average rate of 4.6% under Democratic presidents and 2.4% under Republicans.
Can I get paid to come on and get paid to be captain obvious?
Recessions are part of the economic cycle, all you can do is make sure you're prepared and plan accordingly. I graduated into a recession (2009). My 1st job after college was aerial acrobat on cruise ships. Today I'm a VP at a global company, own 3 rental properties, invest in stocks and biz, built my own business, and have my net worth by $500k in the last 4 years.
They must go to jail !!!!!! BNE home invasion assault on a minor trespassing public intoxication
Woot!!! let’s get this collapse and bankruptcy of the country underway!! it’s party time!!! it’s time for a divorce burn baby burn!!
What are those stupid seals clapping about ? What a joke.
Where the hell have these people been? The country has been in a recession since Brain Damage Biden took office!!!
A recession means nothing until it hurts those who've caused it
Well do Obiden,u destroying America and helping out enemies
Yeah and it started 9 months ago.
Recession and repression are brought to you by Let’s go Brandon and the most transparent Administration in US history!!! Keep voting Democrat!!!
Until Biden send more money to Ukraine so it can get laundered and pumped right back into WallStreet like the 1.7 trillion was.
HA! We have been in recession since January 2022!.
Let's Go Brandon!
Crash is round the corner.
Recession? More like a Depression. We've been financially recessed since Brandon was installed in office.
Duh
Biden destroys America