Are We There Yet? (No)

On Monday, while perusing the sparse menu of non-geopolitical articles on offer across the mainstream financial media, I read yet another paint-by-numbers piece warning on the perils of 5% rates and the alleged inevitability of a US recession. I also wrote just such an article, although to be fair to myself, mine wasn't necessarily a "paint-by-numbers" effort. I put a little thought into it. Not much, but a little. The problem (and this is well-worn territory) is that the transmission channel