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34% of economists expect a U.S. recession in 2021

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WASHINGTON – A number of U.S. business economists appear sufficiently concerned about the risks of some of President Donald Trump’s economic policies that they expect a recession in the U.S. by the end of 2021.

Thirty-four percent of economists surveyed by the National Association for Business Economics, in a report being released Monday, said they believe a slowing economy will tip into recession in 2021. That’s up from 25% in a survey taken in February. Only 2% of those polled expect a recession to begin this year, while 38% predict that it will occur in 2020.

Trump, however, has dismissed concerns about a recession, offering an optimistic outlook for the economy after last week’s steep drop in the financial markets and saying on Sunday, “I don’t think we’re having a recession.” A strong economy is key to the Republican president’s 2020 reelection prospects.

The economists have previously expressed concern that Trump’s tariffs and higher budget deficits could eventually dampen the economy.

President Donald Trump’s trade policies remained a concern for most of the panelists. Thirty-six percent said the existing tariffs, if they remain in place, will reduce 2019 gross domestic product growth by 25 basis points, while 26 percent saw a drag of 50 basis points and 15 percent of panelists expect the reduction to exceed 50 basis points.

Economists also expected the tariffs to boost inflation this year.

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Shyam Ramsay passes away at 67 in Mumbai

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Mumbai:  Shyam Ramsay, one of the seven Ramsay Brothers known for cult horror films such as ‘Puraani Haveli’ and ‘Tahkhana’, died in a hospital on Wednesday, his family said. He was 67. Shyam died of pneumonia at a city-based hospital.

Shyam Ramsay was considered the brain behind the group, he directed films such as ‘Darwaza’, ‘Purana Mandir’ and ‘Veerana’. He was also responsible for ‘The Zee horror show’, ‘Saturday Suspense’, ‘X Zone’ and ‘Nagin’.

The origins of the horror empire set up by the band of brothers can be traced back to a modest radio shop in Karachi in undivided India.

The shop’s proprietor, Fatehchand U Ramsinghani, had relocated to Mumbai after Partition and decided to get into the business of film production.

The Ramsay Brothers, for the longest time ruled the horror genre in Indian cinema with low-budget movies in the 1970s and 1980s. The films were widely popular for their unique mix of horror and erotica.

The last rites will be held at Vile Parle crematorium on Wednesday. Shyam Ramsay is survived by two daughters Sasha and Namrata.

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