Tilman Fertitta told CNBC on Monday that he is doing things in a 'very conservative way' amid fears of a recession.
" on Monday that he is doing things in a "very conservative way" amid fears of a global downturn.
"I think most of corporate America is doing things in a conservative way," added Fertitta, a restaurant, hotel and casino magnate who also owns the NBA's Houston Rockets. In response to growing concerns over a potential recession Fertitta said, "We've had a great 11-year run here and history always repeats itself and we are going to get [a recession]."
While retail sales are up and consumers are spending money, Fertitta said, "It's not as robust as it was."to 92.1 in August, which is the lowest indicator readout in 2019. Economists polled by Refinitiv predicted that the preliminary read on August consumer sentiment would reach 97, down from 98.4 in July.
"Remember, everybody fills their tanks. You can only buy so many new cars. You can only buy so many new TVs. You can only lose so much in a casino. So, at some point, the consumer is full. They used up their credit. I think we're getting to the end," said Fertitta, also host of CNBC's "
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Dow rallies more than 200 points as Wall Street continues rebound from August sell-offAll 3 major U.S. indices climbed today as Treasury yields rebounded, quelling fears of a looming recession. Equities also got a boost after the U.S. agreed to temporarily soften policy against Huawei. The Dow rose 0.96% as the S&P jumped 1.21%.
Leer más »
Kellyanne Conway invokes 'Sesame Street' to ridicule the media over recession fearsThe president, who campaigned on his ability to improve the economy and has sought to take credit for the economic successes, is positioning himself to avoid blame for any possible downturn.
Leer más »
U.S. Commerce Secretary Ross downplays fears of recessionU.S. Commerce Secretary Wilbur Ross on Monday added to a chorus of presidential ...
Leer más »
Japan's exports slip for eighth month, sales to China drop as recession fears growJapan's exports slipped for an eighth month in July, while manufacturers&0...
Leer más »
White House economic adviser: ‘I sure don’t see a recession’White House economic adviser Larry Kudlow dismissed fears about a possible recession after a roller-coaster week for stocks.
Leer más »
Trump economic adviser plays down fears of looming recessionBERKELEY HEIGHTS, N.J. (AP) — President Donald Trump's top economic adviser is playing down fears of a looming recession after last week's sharp drop in the financial markets and predicting the...
Leer más »