Bible Study
  • Bible Study
  • End Times Headlines
  • Latest News
No Result
View All Result
Bible Study
No Result
View All Result
Home End times headlines

US set for ‘economic meltdown that will drag down UK’

in End times headlines
155
SHARES
1.9k
VIEWS
Share on Twitter

The planet’s biggest economy is showing worrying signs that it’s set to crash, according to James Garrick, economist for Legal and General Investment Management (LGIM).

RELATED POSTS

In times like these, we need a savior

Ellen White: The Final Movements WILL Be Rapid Ones

No One Can Enter The Kingdom Of Heaven Except Through The Catholic Church — Says Vatican

Buy JNews
ADVERTISEMENT

The investment firm looks after millions of pounds worth of British pension savings and has now started to reduce risk amid “signs that things are going wrong,” said Mr Garrick.

He issued a similar warning over the American economy in December 2007 and sees a likeness in conditions then and now.

The expert believes the US economy could start deteriorating next year, and be in a full-blown recession by 2018.

Separately, global think tank the OECD today also warned the US outlook had dimmed and cut growth forecasts to 1.8 percent this year, from its previous forecast of two per cent.

Speaking to journalists today, Mr Garrick said the corporate credit cycle has turned “vicious”, with weaker growth and lower corporate profits – off the back of both low oil prices and China’s slowdown – now filtering through into a rising number of defaulting loans or so-called delinquencies.

Mr Garrick warned of a “snowball effect” where issues start small and slow, before picking up pace and spiralling out of control.

It means the more ‘delinquencies’, the more banks will start to toughen lending conditions, which in turn will hit growth and profits even harder. Continue reading

Tweet39Share

Related Posts

End times headlines

In times like these, we need a savior

In times like these, we need a savior. We live in a world where speaking the truth will put you...

Read more
End times headlines

Ellen White: The Final Movements WILL Be Rapid Ones

End times headlines

No One Can Enter The Kingdom Of Heaven Except Through The Catholic Church — Says Vatican

Discussion about this post

Bible Study

© 2020 amredeemed - End times headlines | Coming of Jesus

Navigate Site

  • About Us
  • Activate
  • Amredeemed
  • Contact
  • Disclaimer
  • Home 2
  • Home 3
  • Privacy Policy
  • Submit Prayer Request
  • Terms of Use

Follow Us

No Result
View All Result
  • Bible Study
  • End Times Headlines
  • Latest News

© 2020 amredeemed - End times headlines | Coming of Jesus

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.