The First thing to Go in a Recession

Leading Economic Indicators have been warning us of a recession for a long time. For 15 straight months, in fact, which is the second longest streak of year-over-year declines.

Despite all the warnings and despite the Fed trying to slow the economy, it continues to march on:

The unemployment rate has been below 4% for twenty straight months.
We’ve added 2.4 million jobs in 2023.
S&P 500 Q3 earnings show a 2.7%…

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