Is The U.S. Economy Facing A 'Whopper' Of A Recession In 2023?

CNBC: Worst is yet to come: Economist Stephen Roach says U.S. needs ‘miracle’ to avoid recession

Negative economic growth in the year’s first half may be a foreshock to a much deeper downturn that could last into 2024.

Stephen Roach, who served as chair of Morgan Stanley Asia, warns the U.S. needs a “miracle” to avoid a recession.

“We’ll definitely have a recession as the lagged impacts of this major monetary tightening start to kick in,” Roach told CNBC’s “Fast Money” on Monday. “They haven’t kicked in at all right now.”

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Update: Johns Hopkins economist predicts ‘whopper’ of a recession in 2023 — and points to one key economic reading the Fed is missing (Fortune)

WNU Editor: I have been a follower of John Hopkins economist Steve Hankey for years. I have found his predictions on interest rates to be always correct, and his "Hanke-Cofnas Gold Sentiment Score" is a must go place for those who like gold (link here). His twitter account is also a must follow (link here).

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US And Russian Chiefs Of Staff Discuss Ukraine In Rare Phone Call

U.S. Chairman of the Joint Chiefs of Staff Gen. Mark Milley (left) and his Russian counterpart Valery Gerasimov (file photo) The Hill: Milley speaks with Russian counterpart for first time since start of war Chairman of the Joint Chiefs of Staff Gen. Mark Milley spoke with his Russian counterpart on Thursday, the first such conversation between the two since the Kremlin’s invasion of Ukraine began in late February, according to the Pentagon. Milley spoke by phone with Valery Gerasimov, chief of the Russian general staff, and they “discussed several security-related issues of concern and agreed to keep the lines of communication open,” Joint Staff spokesperson Col. Dave Butler said in a readout of the conversation. The Pentagon did not provide further information on the conversation. Read more .... WNU Editor: So much for the reports last week that Chief of the General Staff of the Armed Forces of Russia Valery Gerasimov was fired b...

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China's shipyard CSSC launches 1st Pakistani Hangor class submarine PNS Hangor

According to information published by the Pakistani MoD on April 26, 2024, the Hangor class submarine PNS Hangor was launched by the Chinese shipyard CSSC. This submarine is a part of the Hangor-class, which itself is based on the Yuan-class Type 039B submarines provided by China. Read full news at this link Hangor class submarine PNS Hangor. (Picture source: Pakistani MoD) Read more from World Defence News https://ift.tt/dgQWhs7 via IFTTT

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