President Donald Trump’s trade war with Canada, Mexico, the European Union (EU) and other US allies is worried about investors. And the Dow Jones industrial average has quickly exacerbated fears of a possible recession.
In an article published by Newsweek on March 15th, journalist Hugh Cameron offers a survival guide for the potential recession.
An economist interviewed by Newsweek said the recession could be very realistic.
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“The risk of a recession has become so important. We’re not there yet, so we’re seeing course corrections, but we’re approaching the edge,” KPMG Chief Economist Diane Swonk told Newsweek.
Economist Gary Huhbauer told Newsweek: “The tariff stories during the match are extremely destructive for business. They completely erode certainty about the tariff levels six months or a year later.
Rosenberg’s investigative president, David Rosenberg, told Newsweek, “It’s impossible for the private sector to plan ahead when there are so many policy flops. The level of economic and political uncertainty is unprecedented.”
But according to Cameron, Americans can take steps to ease the blow in the event of a recession.
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Personal finance expert George Camel told Newsweek: “The best way to protect yourself financially, whether it’s a recession or not is to live less than you make, get out of debt (and stay), and save three to six months of money due to an emergency.
According to Rosenberg, Americans “have to quickly win prizes from the stock market over the past few years and move into areas that have proven to be reliable shelters in troubled times.” And Rosenberg cited “high quality bonds” as a good source of protection.
According to Rosenberg, “Canada probably should be on the radar screens of American investors, as it has its super cheap currency and almost record-breakingly cheap (price-to-revenue) multiples compared to the S&P 500.”
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Check out this link to see the full article by Hugh Cameron on Newsweek.
