Blackstone’s President Sees 2017 Recession Looming Large

I like how our Fed is pairing recession with interest rate hikes. It’s like pairing a 1st growth Bordeaux with a bag of lemon heads or box of crackerjacks.

“It wouldn’t surprise me if we had one in 2017,” James said Wednesday at Bank of America Corp.’s banking and financial services conference in New York. “I’m turning more pessimistic now. There are a lot of headwinds facing us right now.”

James, who leads New York-based Blackstone with Chief Executive Officer Steve Schwarzman, said most of the industrial sector, excluding aerospace and automotive companies, is already in recession, and he expects no growth in earnings in the Standard & Poor’s 500 index of large U.S. companies this year. He also cited factors such as financial strain on consumers, while saying wage growth is one positive sign.

It looks like a lot of smart money out there thinks we’re completely and entirely fucked. Everything is shit. James also believes China is growing at less than 5%, far less than what those devils report. Being a manager of $334 billion in private equity assets, James has a vested interest in throwing shade at markets and valuations, since him and his vultures are waiting in the wings to pounce and acquire.

Truth be told, you can never trust what these people say, as their very nature is to be duplicitous, sinful and without morality.