Steve Picarillo, President of Creative Advisory Group, Inc issued a report today warning that an economic recession may take hold across the globe. Link to the full report.
“The recent economic data certainly adds pressure on the European Central Bank (ECB), which is meeting next Thursday, to take action to stimulate the economy,” Mr. Picarillo added. “In my view, it is unlikely that the ECB will alter interest rates or take any significant monetary action at this time. But it is increasingly more likely that in the coming months the ECB may inject money into the system with the hopes of stimulating growth and pushing up prices to control deflation.”
Country-by-country the foundation is being laid for a difficult economic spell. Adding the geopolitical concerns and the heightened concerns of terrorism, the results do not bode well for smooth sailing on the economic front. “While, of late, I lean towards being a “pessimistic academic economist” and I believe the US economy is extremely fragile and weak, despite some recent positive data points, I expect that additional negative economic news will outweigh positive news and governments will find themselves in the position to take action sooner than later.” Picarillo concluded, “as I said many times before, some of us have read this book and know how the chapter ends.”
The opinions in this article are the views/opinions of the author and Creative Advisory Group, Inc. (CAG), based on public information and the author’s experience. This is not a recommendation to buy, sell or trade any security, debt or any other financial instrument. The author and CAG do not hold any interest in any of entities mentioned in this posting, and have no plans of entering into any financial trade in the same in the next 72 hours.
Company Name: Creative Advisory Group, Inc.
Contact Person: Steve Picarillo
Email: Send Email
Phone: +1 212 810 2164
Address:132 East 43rd Street, MS 359
City: New York
Country: United States
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