Economic analyst and financial writer David Morgan has gone against the majority in the past with predictions that seemed unbelievable at the time. One prediction last year is the Fed not cutting interest rates in 2023. The Fed didn’t, and Morgan is still predicting there will be no Fed interest rate cut anytime soon. Now, with a record high stock market, Morgan is predicting “We are entering into a global depression the likes of which the world has never seen.” The warning signs are many as Morgan explains, “When we enter a depression, people cannot keep up with inflation. So, they work even harder or more hours to try to make ends meet.”
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