Infamous Businessman: ‘Batten Down the Hatches’

Jeff Bezos

( – Infamous American businessman Jeff Bezos, the founder, executive chairman, and former president and CEO of Amazon who also owns The Washington Post, is warning that it’s time to “batten down the hatches” as he believes it is a strong probability that the United States will slide into a recession.

As CNBC is reporting today in “Jeff Bezos is the latest to warn on the economy, saying it’s time to ‘batten down the hatches'”:

“Amazon founder Jeff Bezos has become the latest corporate leader to warn about the state of the economy, cautioning that rougher times are likely ahead.

“In a tweet posted Tuesday evening, the former president and CEO of the online retailing giant echoed comments that Goldman Sachs Chief Executive David Solomon made to CNBC earlier in the day.

Yep, the probabilities in this economy tell you batten down the hatches,” Bezos said in a comment attached to a clip of Solomon’s “Squawk Box” interview.” [emphasis added]

As for Solomon:

“[Solomon] said a recession could be looming as the economy deals with persistently high inflation and a Federal Reserve trying to lower prices through a series of aggressive interest rate increases.

“‘I think you have to expect that there’s more volatility on the horizon,’ Solomon said. ‘Now, that doesn’t mean for sure that we have a really difficult economic scenario. But on the distribution of outcomes, there’s a good chance that we have a recession in the United States.'” [emphasis added]

What is your opinion? Do you think the United States will go into a recession? Do you believe it is already in a recession? Please share your thoughts by emailing [email protected]. Thank you.