Prepare for stocks to crash and the American economy to suffer a sweeping downturn that rivals the Great Recession, Stephanie Pomboy has warned.
The economist noted that debt levels are higher today than before the mid-2000s housing crash, and the Federal Reserve has dramatically raised interest rates over the past year. The upshot is that consumers aretheir car loans and credit cards, and many companies and real estate developers are feeling the squeeze, she continued.
Pomboy, who worked at ISI for over a decade before starting her own investment-research firm in 2002, castigated the US central bank. She accused it of repeatedly pumping too much money into the economy, boosting asset prices to unsustainable highs, then ratcheting up interest rates and causing painful crashes.
Yeah it happened in October duh old news
So when’s the next taxpayer-funded bailout for the elite?