While I may be jumping the gun on my model readings, I’m calling a recession.
Remember when oil prices tanked in the second half of 2014? The economy experienced a shallow industrial recession in 2015.
While history doesn’t repeat but rhymes, the price war that erupted over the weekend between Russia and OPEC is another threat to the growth outlook. Combined with the already fragile state of the economy from the coronavirus induced supply chain slowdown, it is difficult to see how the US economy can avoid a recession. George Pearkes at Bespoke came to a similar conclusion (via Business Insider).
Recessions are bull market killers
Remember, the historical evidence indicates that recessions are bull market killers.
The economy was already weakened by coronavirus inducedRead More »