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September 16, 2022 at 03:12 PM
Related: Jeffrey Gundlach’s Top 10 Predictions for 2022
The U.S. isn’t quite in a recession right now but will likely be in one by either late this year or early 2023, according to Jeffrey Gundlach, DoubleLine Capital CEO and chief investment officer.
The biggest problem facing the country, meanwhile, is our addiction to debt, he said Thursday, during a Total Return webcast called “Rehab” in which he argued that the federal government needs to rehabilitate itself by ending the cycle of stimulus and other debt creation.
U.S. citizens, meanwhile, need to get off the credit card debt cycle, said Gundlach, who even played part of the Amy Winehouse song “Rehab” at the start of the webcast to underscore the theme.
Check out the slideshow above to view the top 10 updated predictions that Gundlach made on Thursday.
Slideshow
