Short answer: Maybe. In my opinion, probably.
I’ve lived through several recessions. My advice: Pay down debt now; you want to cut your monthly expenses. Stockpile household items (I always load up on toothpaste, soap, shampoo, laundry detergent, and whatever OTC medicines I need for my allergies. Basically, anything you will regret having to pay for when times are tight.) If you actually need to live off your investments (if you have any), lower your risk and put them in an index fund.
If I’m wrong, you don’t lose a thing.
Here’s some information on the topic of whether we’re headed that way:
I’m a Depression historian. The GOP tax bill is straight out of 1929.
Ben Bernanke doesn't think the unexpected flattening of the US yield curve signals a looming recession.
The last time the yield curve inverted was at the start of 2006, just as he took over as Fed chair. https://t.co/KmheXjTgVI pic.twitter.com/IVajQ8R8li
— Financial Times (@FinancialTimes) July 18, 2018
Ben Bernanke, the same person who over a decade ago called for no recession, no national bear market in housing, and no spreading problems in subprime, is now saying there is no signal to come from the yield curve. We should therefore be worried. Very worried.
— David Rosenberg (@EconguyRosie) July 19, 2018
Interesting to note that "no recession in the next 2 years" is a contrarian call pic.twitter.com/t68gYlllAc
— Julian Klymochko (@JulianKlymochko) July 18, 2018
It looks like #DonaldTrump is posturing to blame the #Fed for the coming recession. My guess is that the Fed will blame it on Trump for starting the trade war. Voters will likely blame both and express their frustrations at the ballot box.
— Peter Schiff (@PeterSchiff) July 20, 2018
