Economist David Rosenberg says stock market is due for a 20% drop in 2024: Santa Claus Rally Faces Abrupt End, Economy to Sink in 2024: Rosenberg (businessinsider.com) and Stocks Will Crash 25% or More, Recession Will Hit by Spring: Rosenberg (businessinsider.com)
He’s a favorite of tabloid Business Insider – and has been wrong every year. Some day he will be right because (a) he predicts a downturn every year, and (b) eventually there will be a downturn and he will proclaim himself a genius.
- 2018: He predicted a recession: Next Recession: Bearish Market Signal Is Almost at Crisis-Era Levels (businessinsider.com)
- 2019: The market is in a bubble: Consumer spending is a bubble waiting to burst, David Rosenberg warns (cnbc.com) “Rosenberg, who is has been known as a permabear on Wall Street for decades, came into 2019 saying the U.S. economy is on a collision course with a recession.”
- 2020: Stock market is going to crash: Stock Market Crash: David Rosenberg Sees a Plethora of Warning Signs (businessinsider.com)
- 2021: Stocks will underperform: David Rosenberg Warns on Stocks, Blasts Fed, Predicts Slower Growth (businessinsider.com) – ” I would not be in the S&P 500 right now” and “Top economist David Rosenberg warns against buying US stocks, calls out the Fed, and predicts an economic slowdown in a new interview.”
- 2022: 75% risk of a recession: “How to Invest With a 75% Risk of Recession in 2022: Rosenberg (businessinsider.com)
- 2023: “Economist David Rosenberg believes a recession in the US will be the story of 2023. The S&P 500 could fall about 20% to 3,000 in Rosenberg’s base case.” – Stock Market Outlook 2023, How to Invest for a 20% Selloff: Rosenberg (businessinsider.com)
- 2024: Stocks Will Crash 25% or More, Recession Will Hit by Spring: Rosenberg (businessinsider.com)
David Rosenberg has a track record of being wrong. Yet tabloid Business Insider features him as their “go to” on economic forecasts – and never notes that Rosenberg is always wrong. The goal of content mill tabloids like Business Insider is to instill fear and hysteria in readers – all the better to have stories go viral and sell eyeballs to advertisers.
Here’s the DJI trend from CNBC:
