Is The US Recession Already Here?
US industry is powering down and layoffs among America's tech titans are piling up.
When taken together with an extremely lackluster read on retail sales for December, Wednesday's news flow out of the world's largest economy certainly had a recessionary vibe.
Industrial production dropped 0.7% in December, Fed data showed. That was far larger than the drop consensus expected and nearly matched the most pessimistic guess from six-dozen economists.
It marked the third straight decline, and re
The economy is slowing down fairly quickly. Whether to call what is coming a recession or not is probably not the main thing at this point. If nominal growth goes below 4% and approaches 3% things are not going to be swell. Stir in a Republican house bent on cutting back fiscally to own the Libs and you have an ugly mix for 2023 to mid 2024. Not sure how much things are going to slow down (who is) but I am concerned that even if we somehow manage to skirt a recession this slow growth/no growth is going to last longer than usual.
Did any of you notice this on the front page (below the fold) of Wednesday’s WSJ? Vey topical to this discussion. Things can take time to play out fully ….
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