Goldman Sachs’ former CEO says there’s a ‘very, very high risk’ of recession for the US economy and companies and consumers should prepare

MarketsInsider/Hamza Fareed Malik/5-16-2022

cartoon showing cowboy riding snail shouting yeehaw“If I were running a big company, I’d be very prepared for it. If I was a consumer I’d be prepared for it.” – Lloyd Blankfein, Goldman Sachs

USAGOLD note: The only way to prepare for a recession is to act as if you are already in the middle of it – cut back on spending, lay off staff, reduce debt, etc. At the same time, Along with a recession, Blankfein foresees inflation persisting. In short, it appears Blankfein has grabbed a seat on the stagflation bandwagon.
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