Former Council of Economics Advisers Chairman Kevin Hassett discusses the current U.S. banking system, recession fears, Democrats’ spending sprees and the country’s labor force participation.
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BREAKING: Recession News
LEARN MORE ABOUT: Bank Failures
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
Fmr. Trump economist, Kevin Hassett has recently warned of the “negative signs” as the United States “clearly” enters into a recession. Hassett, who served as the Chairman of the Council of Economic Advisers under the Trump administration, believes that the country is currently facing an economic crisis that is worse than the 2008 financial crisis.
The warning from Hassett comes amidst the ongoing COVID-19 crisis that has sent shockwaves throughout the global economy. The pandemic has caused widespread job losses, business closures and has left millions of Americans struggling to keep up with their bills and expenses.
According to Hassett, the current economic situation is likely to get worse before it gets better. With the pandemic showing no signs of slowing down in the United States, the country is likely to see a prolonged recession that could last for months, if not years.
Several economic indicators have already pointed towards a recession. The country’s GDP has already fallen by 5% in the first quarter of 2020. The unemployment rate has soared to over 14%, which is the highest since the Great Depression.
Hassett suggests that the government needs to take immediate action to mitigate the impact of the recession. He has recommended measures such as offering financial assistance to businesses and individuals who have been affected by the pandemic. He also suggests that the government should increase spending to stimulate the economy and to prevent a deeper and longer-lasting recession.
The warning from Hassett is significant as he was a key economic advisor for the Trump administration. His views carry weight and could influence policy decisions in the future.
The US government has already taken some steps towards addressing the economic crisis. The CARES Act, which was signed into law on March 27, 2020, provided financial aid for businesses and individuals affected by the pandemic. However, there are concerns that more needs to be done to address the current economic situation.
In conclusion, the warning from Kevin Hassett is a matter of concern for the United States. The country is facing an unprecedented economic crisis that has been exacerbated by the ongoing COVID-19 pandemic. The government needs to take immediate action to prevent a prolonged recession and to support businesses and individuals who have been affected by the pandemic. The road to recovery will be long and challenging, but with the right policies and actions, the country can bounce back stronger than before.
PRESIDENT DONALD JOHN TRUMP wouldnt have destroyed the middle class. Joe has destroyed this country
IMPEACH JOE BIDEN
Lol Maine has a large number of immigrants that have moved to here. They will not be allowed to work for two years so we are paying for their housing for free I believe they were brought here to flatten the job market! Making jobs scarce with in two years! The elite killed the middle class!
As of right now, our housing market is being flooded with immigrants, our own US citizens are losing housing because of immigration!!! This needs to stop !!!
FACTS – Central banks are STOCKPILING physical gold , at a historical rate . In 2022 record purchases not seen since the 1950’s . The “petrodollar” was killed last summer ! THIS is SO significant ! It was the promise of Saudi Arabia to sell its oil to EACH country around the globe in US dollars ONLY ! THIS is so important that this “ deal “ that was made in 1974 is now OVER is going to be affecting all Americans . The other nations had to FIRST convert their fiat currencies into U.S. dollars – THEN hand said dollars over to Saudi Arabia before oil was delivered . ALSO – simultaneously , countries such as China and Russia and many others ( including friendly nations ) are currently DUMPING US DOLLARS ! This is also very significant and not being broadcasted on mainstream US television footage .
China and Russia have been encouraging their citizens to purchase physical gold & silver for the past 5-7 years .
FACT – less than 2% of Americans own any precious metals .
Peace ☮️
Hey! LET'S SEND ANOTHER 100 BILLION TO UKRAINE!
Save us Joe! Borrow another 9 TRILLION! THAT'S THE TICKET!
Some economists have projected that both the U.S. and parts of Europe could slip into a recession for a portion of 2023. A global recession, defined as a contraction in annual global per capita income, is more rare because China and emerging markets often grow faster than more developed economies. Essentially the world economy is considered to be in recession if economic growth falls behind population growth.
Let’s go Brandon
I gain all lost from fake hackers though Maskoffaid on YouTube a very big thanks for the bitcoin hack
I gain all lost from fake hackers though Maskoffaid on YouTube a very big thanks for the bitcoin hack
WHAT DIS SHE JUST ASK? I GOT SCARED THERE FOR A MINUTE, SHE WAS SLOBBERING SO FAST I WAS AFRAID SHE WAS ABOUT TO SWALLOW HER TONGUE. THAT WAS A WHAT THE HELL DID SHE SAY. LMAO
All Biden’s fault.
Lol
I started my own business this month and I am meeting with my first client today. I’ve been I have been listening to Jim Rohn for awhile now, but this video is so on time for me! I am definitely going to implement the 70, 10, 10,10 with my very first transaction. I am grateful to you Mr. Rohn, you definitely left your mark on this world! Thanks to you I have a plan and I feel more confident in the area of money.
I get that she is not big on facts, and painful to listen to but, finance is more of a numbers game and less of a political issue. She needs to educate herself instead of spreading hate and false narratives.
They’re talking about cutting veterans benefits. Were in a depression
Kevin Hassett……..enough said.
Sometimes know to be a very good place to turn & good place of personal investment
In the church can be found not only a good sermon & church service or two ,but that of a few good tax shelters & charities worth the investment: many may say a person has also got to have a good friend named jesus
It's not a recession as long as Biden is getting his 10%!
While jip biden pocket get fat
Most people complaining of how bad the economy is,live well beyond their means..no budget, reckless spending, mortgage more than what they can afford..of course,then they look to blame others..
But what about all the fake unfilled jobs? The Marxists in both Canada and the USA keep touting unfilled jobs as an excuse for unbridle immigration. Has anyone checked the veracity of all these unfilled jobs. Are they real openings or just an army of the woke inflating these numbers to help their masters sell massive immigration/democrat voters? I would suggest contacting ADP which is a payroll provider to get actual job growth numbers as well. I think you will be shocked assuming ADP hasn’t gone woke.
What fox refuses to say is the bad policy was made by Republicans
Almost 100 years since Germany caused a great depression.
Another one just looming over head
Ok well let me know
Biden is horrible…..but this crap has been brewing for 12 years plus!
Cant have a recession when the economy is up higher than its been in 10 years
this administration will be remembered for all time as the downfall of America
Thank you Democrats! You have no idea what you are doing
In the "Recession Joe Biden" economy local businesses are feeling the pressure from higher food prices – seeing them double, sometimes triple what they used to be. Just another let's go Brandon moment
Haven't we technically been in a recession for multiple months now?
Recession Hell,call it what it is,a Depression!!!
They monopolise markets with big banks.
Given that Trump's economic policy produced crappy numbers on real GDP growth, job growth, and deficits; not to mention the Trump Recession that arrived before the pandemic had any effect makes it doubtful that we should get driving lessons from the person who wrecked the car.
This is worser than a recession ,worser than a depression, this is the American empire collapsing to the ground.
ship OBAMA back to KENYA
The hydra-headed evil duo of inflation and recession is currently afflicting America. The worst aspect of the current recession is that consumers are incurring credit card debt. Credit card debt increased by 20% in April alone, while interest rates have more than doubled in a year. Inflation is so high that consumers are literally going into debt to pay for basic necessities. The collapse has begun, which is why I'm looking to enter the market now and ride it out as the economy improves. I'm putting together a $550,000 portfolio. Do you have any stock recommendations?
Recession should only be temporary until June 5th. But the real comeback will be a wait, unfortunately
Investors can’t predict the future, bearish periods automatically give way for a new set of stocks to buy and watch while setting the stage for a new profitable uptrend. I have come across articles of people that grossed profits up to $250k during this crash, what are the best stocks to put on a watch list or buy at the moment?
If the Student Loan forgiveness and we all had universal healthcare the economy would be great.