CNBC’s Rick Santelli said this morning that this quarter isn’t shaping up a good quarter and that many see a recession coming.
He agrees and said he doesn’t see a way to avoid a recession.
CNBC's Rick Santelli: "Many are seeing recession. I don’t see a way to avoid it … Is this really a banking crisis? It's a Fed crisis, it's a rate hiking crisis, it’s a crisis built on a crisis we never solved … is it any wonder there's so much volatility in the market?" pic.twitter.com/R9YNBndpPd
— Tom Elliott (@tomselliott) March 24, 2023
Santelli said point blank that we’re not really in a banking crisis. Rather he said we’re in a Fed crisis and a “rate hike” crisis.
With his comments about a pending recession coming, I’m sure the White House won’t be happy about it.
They will just change the definition of ‘recession’ like they did last time, so that they can claim we aren’t in a recession and their acolytes in the media will follow suit.