Billionaire Peter Thiel Warns US Close to Recession

“Economy Would Be Shaky if Not for Crazy Budget Deficit,” says Thiel Tech billionaire Peter Thiel says the US economy would already be in a recession if not for massive government intervention. Speaking with fellow billionaire Chamath Palihapitiya at the All-In Summit 2024, Thiel says that an economic downturn is in sight for the US but it is being kept at bay by the government stimulating economic activity through spending. According to the billionaire, the government stimulus is unsustainable as it is being fueled by “crazy” budget deficits. “I suspect we’re close to a recession. I’ve probably thought this for…