Sam Zell: We’re Already in a Recession

Real estate boss, Sam Zell, who sold his real estate company to Blackstone in 2007 for $39 billion, just prior to the complete collapse of the industry, is bearish again. As a point in fact, I think Sam is perpetually bearish, programmed to talk shit so that prices decline, enabling him to swoop in like the vulture that he is.

Nevertheless, he’s not calling for a redux of 2008, as he feels the banks are strong. He simply believe the United States, as well as the rest of the globe, are inexorably destined for harsh economic inactivity.