Breitbart’s Marlow on Recession Fears: ‘Huge Amount of Inventory’ Not Getting Sold Off

Breitbart News editor-in-chief Alex Marlow on Wednesday addressed the lurch towards a global recession.

Marlow, while speaking on Fox Business Network’s “Kudlow,” said there was a “massive glutton inventory” because products were finally being made after the shutdowns, but consumers weren’t purchasing them due to economic concerns. He added that as a result, there was “a huge amount of inventory” that wasn’t getting sold off.

“This is a global index where they’re looking at Europe, they’re looking at Asia, and we saw bad numbers coming out of Australia, bad numbers coming out of Japan and some really bad stuff coming out of Europe that’s really seeing two issues,” Marlow outlined. “First of all, of course, there is an energy crisis there because they got deeply tied due to their globalism to Russia, and we don’t know what’s going to happen as we head into what could be a very cold winter there. But also, we’re seeing a massive glutton inventory. We’re seeing a lot of products that are finally getting made after the big pandemic slowdown, and now, people don’t want to because they’re concerned economically. So, there is a huge amount of inventory there that is not getting sold off.”

With the lack of spending, Breitbart News economics and finance editor John Carney warned the United States was “in danger of a much deeper downturn than what we saw in the first half of the year.”

“We really expected the services sector to be growing right now — except that inflation came around,” Carney explained. “Inflation is so high that it is hurting people spending on discretionary. So, instead of going out to eat, you are spending so much just for groceries you can’t bring your family out. Gasoline prices were very high. They have come down, but they were very high. That cut into family budgets as well, and so, we thought we would see this handoff where people would slow down spending on goods — that’s fine. We filled our houses up with a lot of stuff during the pandemic and start spending on services. That’s not happening, and that’s really putting us in danger of a much deeper downturn than what we saw in the first half of the year.”

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