David Rosenberg, a strategist, and economist at Gluskin Sheff + Associates Inc is sure that an economic recession is underway.
The month of July 2019, marks the 121st month of the longest-running economic expansion in the US since 1854. The US economy has seen a continued rise since June 2009, although the GDP rise has been lower than that of other booms.
Wall Street has however sounded the warning bells, saying that the expansion is slowing down.
Taking it to Twitter, Rosenberg says:
“For those who “can’t see the recession”, it’s illustrated for you in this chart. The NY Fed model now pegs recession risk at 32.9%, a 12-year high. History shows there’s no turning back at this level”.