🧵 1. Billionaire Peter Thiel warns of imminent recession in the US due to unsustainable government stimulus if not for ballooning budget deficits. #finance
🧵 1. Billionaire Peter Thiel warns of imminent recession in the US due to unsustainable government stimulus if not for ballooning budget deficits. #finance
🧵 2. Thiel believes US economy propped up by massive spending, projected deficit of $1.5-$1.6 trillion underestimated, now around $400 billion higher.
🧵 3. Despite economic growth, debt levels skyrocket with US government recording $1.9 trillion budget deficit for the first 11 months of fiscal year 2024.
🧵 4. Thiel warns of shaky economic future with inadequate growth and excessive debt as US national debt hits record high of $35.273 trillion.
🧵 5. Tech billionaire's comments come amid concerns over sustainability of government intervention in preventing recession, pointing to looming financial uncertainties.
🧵 Read more at: https://dailyhodl.com/2024/09/16/billionaire-peter-thiel-warns-us-close-to-recession-says-economy-would-be-shaky-if-not-for-crazy-budget-deficit/