Billionaire investor Sam Zell is predicting global economic turmoil will push the U.S. into recession. Janet Morissey writes at The Wall Street Journal:
Billionaire investor Sam Zell, who correctly called the top of the last commercial real-estate cycle, is predicting global problems will likely push the U.S. into a recession in the next year.
While the U.S. is humming along fine at the moment, Mr. Zell warned that it isn’t immune to problems in the world economy. Those problems include low oil prices, falling import demand from emerging economies, volatile financial markets, deflation, possible negative interest rates and currency exchange rate fluctuations, he said.
“I’m not being pessimistic, I’m being realistic,” he said last week at a real-estate conference in New York. The U.S. economy is now “in the ninth inning,” he said.
Zell goes on to say “It’s very hard not to assume that we’re on the cusp of going back into a recession.”
Famed investor Jim Rogers agrees: