Image default
Greek News

Jeff Bezos: “Don’t buy expensive stuff on Black Friday” – He warns a recession is looming

Jeff Bezos has warned a US recession is looming and advised consumers and businesses to stockpile cash in case there’s a devastating downturn.

“The economy does not look great right now,” Amazon’s billionaire founder and executive chairman told CNN on Saturday.

“Things are slowing down, you’re seeing layoffs in many, many sectors of the economy,” he continued. “The probabilities say if we’re not in a recession right now, we’re likely to be in one very soon.”

Bezos recommended that American households delay big-ticket purchases such as new TVs, refrigerators, and cars, given the risk that economic conditions worsen. Similarly, he suggested that small-business owners consider holding off on investments in new equipment and build their cash reserves instead.

The e-commerce pioneer declined to estimate how long the recession could last, but he urged people to be ready for an economic disaster.

“Take as much risk off the table as you can,” he said. “Hope for the best, but prepare for the worst.”

Bezos’ latest comments echo his response to Goldman Sachs CEO David Solomon in October when the bank chief said there’s a good chance of a US recession.

“Yep, the probabilities in this economy tell you to batten down the hatches,” Bezos tweeted at the time.

more at yahoo.com

Σχετικα αρθρα

Copper’s biggest mystery is finally cracking

admin

Abandoned Greek airport to be transformed into a 600-acre coastal park

admin

Christmas Holidays – Plastic vs. Real Tree (infographic)

admin

Greek robotic laser system “Minotaur” can shoot down Turkish drones, says its inventor (video-photos)

admin

Oil Plunges to lowest since 2021 as China unrest rattles market

admin

Belgium and the Russian Diamonds (infographic)

admin

TOP 10 supercars in Europe!

admin

Electricity: These are the December subsidies for households set by the Greek state

admin

EU gas price cap proposal deemed “unworkable” & “a joke” even by advocates

admin

Ermou Street in top 15 most expensive shopping streets in the world

admin

“Career Cushioning”: The latest work trend people on LinkedIn say it can help you recession-proof your paycheck

admin

Linde starts green hydrogen production in Greece

admin