HereS a summary of the key points from the provided text:
Bearish Outlook: david Berezin, who accurately predicted a stock market plunge in 2022, remains concerned about the economy.
Key Concerns: His worries stem from trade uncertainty, a growing deficit, and a weakening consumer.
Labor Market Weakness: Job openings are declining, reducing the “insulation” of the labor market. Other economists share concerns about slowing hiring and declining small business sentiment.
Rising Delinquencies: Consumer delinquency rates on credit cards and auto loans are increasing, with credit card delinquencies at their highest since 2011.
Student Loan Impact: The restart of student loan collections is negatively affecting consumer credit scores.
Housing Market Pressures: The housing market faces challenges with affordability and inventory. Falling construction is another sign of a slowdown.
* Tariff Threat: High tariff rates (around 15%) are considered risky and could cause economic pain if trade deals aren’t solidified.
