Malpass predicts a recession
Luke Malpass writes:
A recession, which was unthinkable even a year ago, is now all but a certainty. It is a matter of not if, but when.
A bold call. Why? Malpass points to the following:
- Shortage of workers
- Shortages of supplies
- Entrenched inflation
- Lowest ever consumer confidence
- Massive decline in competitiveness
- Major cities becoming less liveable
- Rising interest rates
A nasty mix it is.