Markets guru David Rosenberg says the tech-stock frenzy reminds him of the dot-com bubble - and warns the US economy is barreling towards recession
The former chief North American economist at Merrill Lynch also highlighted the S&P 500's resilience, the very tight labor market, the Federal Reserve raising interest rates sharply, the protracted yield-curve inversion, and widespread hopes among investors for a"Rosenberg weighed in on AI and the dot-com craze too, suggesting that"both have enormous economic and productivity influences, but both also involved financial asset bubbles that popped in dramatic fashion.
"The smug complacency in 2000 looks eerily similar to what we have on our hands today," Rosenberg said, adding that a recession is"coming sooner than you think."is signaling a 99% chance of a recession, and based on past economic cycles, that may mean the downturn arrives before the end of this year.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pitch deck that cloud startup Render used to raise $50 million in VCHe was employee No. 8 at Stripe. Now, he's taking on Salesforce and AWS with $50 million in new funding for his startup Render. Here's the pitch deck it used.
Read more »
Why is there a free banana stand at Amazon's headquarters?Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »
Internal Microsoft poll: more employees would take competing offersMore Microsoft employees say they would leave if they got another offer, according to an internal poll. It's a sign of falling morale.
Read more »
Sensor Tower sues Triller alleging unpaid bills for analytics servicesInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »
Two Sigma founders can't agree on anything, per fiiingInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »
Snap loses 'respected' monetization leader amid executive shakeupInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »