Sean Foo: Terrifying US Economic Bust Alert Issued as Major US Bank Warns of $3100 Gold

A storm seems to be brewing in the US economy, with the latest GDPNow update from the Atlanta Federal Reserve painting a particularly bleak picture. The model, a real-time tracker of economic activity, is now forecasting a contraction of 1.5 percent for the second quarter of 2024. This significant drop raises serious concerns about the underlying health of the economy and, crucially, the strength of the American consumer. This negative GDP forecast, if realized, would signal a worrying slowdown, potentially even a recession. It suggests weakening consumer spending, a critical engine of US economic growth. Factors contributing to this potential downturn could…