Bond King Jeffrey Gundlach Predicts Economic Downturn and Urges Spending Curb

According to "bond king" Jeffrey Gundlach, it doesn't matter who wins the White House in 2024 because the US debt position will still be a major issue that needs to be addressed. Gundlach believes that the country's $2 trillion budget deficit is unsustainable and not limited to a Republican versus Democrat issue. He suggests that investors should consider putting their funds into non-US stocks and avoid market darlings like Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla. The national debt, which has surpassed $33 trillion, is a growing concern for investment professionals due to the impact of higher interest rates and aggressive government spending. Experts warn that the government may be forced to raise taxes and cut social programs to address the debt, which could harm the economy and create volatility in global asset markets.