• Recession – or worse – ahead, warns economist
• “There’s a good chance we’ll have a recession in 2023”
(Total Recorded Time is 25:02)
The nation’s economy, if not the world economy, is facing a severe downturn, says economist Murray Sabrin, an advocate for free markets.
“If you look at what the Federal Reserve has been doing in terms of manipulating interest rates, creating trillions of dollars in 2020 to fend off COVID lockdowns … and now we are seeing the results of that with the very high inflation rate for 2022,” he says in an interview recorded in December 2022.
“I think we’re going to have a recession this year because we have the inverted yield curve where short-term rates are above long-term rates,” he says. “Historically when that happens, within a year or so a recession hits. There’s a good chance we’ll have a recession in 2023.”
Mr. Sabrin explains his outlook in this edition of Bizgnus Interviews.
Please click here to watch the interview: https://youtu.be/sskZzUGmMhE
Mr. Sabrin emigrated to the U.S. with his parents in 1949. He became an educator teaching finance at Ramapo College of New Jersey. He also dabbled in politics when he was the first third-party gubernatorial candidate to debate the major party candidates in a race for governor.
Although he lost, getting about 5 percent of the vote, Mr. Sabrin says he still had an impact on public policy, changing New Jersey laws involving free speech, auto insurance and highway speed limits.
Now emeritus professor of finance at Ramapo, he is the author of several books including “The Finance of Health Care;” “Navigating the Boom/Bust Cycle: An Entrepreneur's Survival Guide;” and his latest book, “From Immigrant to Public Intellectual: An American Story.”
For more information: murraysabrin.substack.com
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