Companies have been cutting thousands of jobs as experts warn of a likely recession, despite Biden’s dismissal of such concerns.
Three days after President Biden said the country’s “not anywhere near a recession right now,” Amazon founder and Executive Chairman Jeff Bezos warned a sharp economic downturn is looming.
“The economy does not look great right now,” Bezos told CNN on Saturday. “Things are slowing down. You’re seeing layoffs in many, many sectors of the economy. The probabilities say if we’re not in a recession right now, we’re likely to be in one very soon.”
The billionaire entrepreneur declined to estimate how long he thinks the recession would last but cautioned people to prepare for a time of economic struggle.
“Take as much risk off the table as you can,” he said. “Hope for the best, but prepare for the worst.”
Two days after the interview, several media outlets reported that Amazon plans to lay off about 10,000 employees in corporate and technology roles beginning this week, the largest job cuts in the company’s history.
1929 Stock Market CRASH !!!!!!
The dumbocrats totally own this recession!
I have no respect for anyone that continues to vote for anyone with a (D) beside their name – even down to the non-partisan school-board elections! I have even less respect for those that run for office with that (D) beside their names – and that includes those without the (D) that are supported by the (D) machine!
Doesnt matter who owns it or who started it. It matters when its hits hardest, we all are hunkered down and ready to help one another. UNITED States are who we are, not some knuckleheaded country that fights itself year in and year out
Once CONgress figures THAT out, our nation will heel. Until then WE must stay together thru thick and thin. CONgress doesnt care and all tbey want to do is investigate. Go ahead and do it, we get nothing out of it. Satisfaction doesnt pay my bills.