Recession?

The clamoring is getting louder and louder that America is heading for a recession. I tend to agree, judging from a look at our personal savings rate, which is, to put it lightly, less than ideal.













Heres a depressing set of facts about that.

Some argue that its going to be a soft landing. I disagree. foreseeing a slowdown, the fed didn't stop raising interest rates until August. Meanwhile, the government deficit is sitting pretty at something like 3% of GDP.

Those arguing for a soft landing, or for no recession at all, cite that corporate pre-tax profits are up 31% in the third quarter. Sounds like the last gasp of a lot of borrowing-fueled malinvestment to me.

Hold on to your seats, its gonna be a bumpy ride.