Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Reynolds Warns of a Second Recession Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, June 11, 2012

Reynolds Warns of a Second Recession

News summary by MFWire's editors

Could the nation be facing a second recession? Yes, if Democrats and Republicans don't reach a budget-balancing deal by December, says Putnam [profile] CEO Bob Reynolds.

Reynolds predicted at a Boston College investing conference this past week that a bill will be due by New Year's Day 2013, reports Jerry Kronenberg for the Boston Herald.

"Even if we agree to punt the status quo forward by a year — which, by the way, is what I think is going to happen — America is going to have to (use) 2013 to debate and choose between just drifting toward insolvency or changing course," Reynolds said.

A second recession would trigger across-the-board spending cuts and likely tax hikes, Reynold said. This could cause the U.S. to fall behind Europe and Asia's developed nation in the "race to solvency," which could shut the U.S. out of credit markets, he said.

"Global capital flows are the lifeblood of national economies, and America needs access to them as much as anyone. So the way I see it, we really don't have a choice about coming to grips with our debts and our spending," Reynolds said. 

Edited by: Irene Park


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use