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America is not in recession

Matthew Bishop, the American business editor of the Economist, talked through his views on the credit crunch at a conference I am attending in Miami.

He began by asking the audience if they thought the USA was in recession. This was using voting devices. Y’know the ones you get at conferences that are a bit like small calculators, and you are then asked a question and vote A, B, C or D.

At this conference, with over 500 bankers and treasury folks attending, the results were:

  • 85% think the USA is in recession;
  • 72% think USA is dragging down world economies;
  • 63% think it’ll get worse in next 12 months; and
  • 57% are finding it harder to get capital for the business.

Read more …

About Chris M Skinner

Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here...

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