Economist Warns US Heading Towards Recession – Worse Than Normal?

Former hedge funder Peter Atwater is predicting a recession is coming.

Atwater cited that consumer sentiment is thinking a recession is coming and that usually ends up leading to one. He said, “people are now acting on the assumption that a recession is coming.”

He also warned that some areas that have been resistant to crises might not be this time.

From Epoch Times:

The United States economy is already in the process of entering recession, according to an economist specializing in how sentiment affects markets.

He predicted that a large amount of malinvested capital will be wiped out and areas of the economy that have historically been resistant to crises may not be so this time.

His research indicates that the economy is under the influence of “confidence cycles” and when consumer sentiment shifts toward the expectation of a recession, the market will actually enter one.

“I think the cake has been baked from the sentiment perspective where people are now acting on the assumption that a recession is coming. And remember, it’s that action that actually causes a recession to come,” said Peter Atwater, former hedge funder and now lecturer at the College of William & Mary in Virginia, during a recent Wealthion interview.

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