The U.S. economy is currently entering a recession, argues John P. Hussman, Ph.D., the head of an investment company. Others, from both the left and the right of the political spectrum, have similar forecasts about the country's immediate future.
"By our analysis, the U.S. economy is presently entering a recession. Not next year; not later this year; but now," Hussman wrote Monday in a commentary on the Hussman Funds website.
Hussman believes that more evidence that the economy has entered a recession will be forthcoming in the next few months, "but through a constant process of denial in which every deterioration is dismissed as transitory, and every positive outlier is celebrated as a resumption of growth." Read more
This news will not be welcomed by churches that are experiencing a decrease in giving.