The warning bells have been ringing since 2020. And anyone who hasn’t seen the writing on the wall hasn’t been paying attention. A global recession is not coming. It is already here.
In the United States, the economy has contracted for two quarters. And while the market is still adding jobs at an impressive rate, simply replacing those lost during the pandemic, most other indicators point to a very troubling road ahead. The consumer price index has climbed dramatically while production has stalled. The S&P 500 has fallen 25% since January, and long-term treasury yields are down considerably.
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