I am not the superstitious type, but everywhere I turn these days it seems somebody (Bill Clinton,Warren Buffett), somewhere (Wisconsin), sees something (bond market) that makes them want to talk about recession. It’s enough to make a guy a little nervous, even though all but the most bearish forecasters out there still don’t think it will actually happen.
“The bond market is acting as if we are setting up for a financial panic akin to what we saw in 2008,” says Charlie Smith, Chief Investment Officer at Fort Pitt Capital Group, in the attached video. As he sees it, it’s more like we were never really came out. “I don’t think we’re going into recession, but I don’t think the economy ever really got to the level where it reached escape velocity—where we were in a real recovery.”
To be fair, President Clinton’s comments, which were later clarified or sanitized (depending on your point of view), were more geared toward the need to avoid doing anything that would act as a headwind to an extremely fragile economy, like letting taxes go up or slashing federal spending.
- What’s Bill Clinton up to? (politico.com)
- Clinton sparks campaign commotion with comments on taxes and “recession” (nbcpolitics.msnbc.msn.com)
- Clinton sparks commotion with ‘recession’ comments (nbcpolitics.msnbc.msn.com)
- Obama: I Won’t Extend Bush Tax Cuts for Rich. Period. (newser.com)
- Clinton clarifies Bush tax cut remarks (politico.com)
- Video: We’re in a recession and should extend the Bush tax cuts for the rich, says … Bill Clinton (hotair.com)
- Contradicting Obama Again? Bill Clinton Tells CNBC That Congress Should Extend All Tax Cuts (mediaite.com)