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IPFS News Link • Economy - Recession-Depression

Big Short's Steve Eisman: "I Have My Doubts" The Fed Can Stave Off A Global Recession

•, Zero Hedge

Eisman started the interview by mentioning the downturn in global PMIs, a sign that the developed world has already entered a manufacturing recession.

And even if this metastasizes into a global recession in the coming months – something Eisman believes is certainly possible – the downturn won't be nearly as devastating as the devastating recession that followed the financial crisis. For one, the financial system is a lot more secure than it was in 2007, Eisman says.

"There's not a question that we're in a global industrial slowdown…whether that will translate into a global recession is open for debate."

"Even if it does become a recession, we're not going to have the systemic blowout that we had last time because the banks are just much healthier."