The Next Recession

No, I"m not calling for it yet.  In fact the risk of recession at least through the end of this year appears to be fading fast.

But inevitably, the next one is out there.  And as we are past mid-cycle in this expansion, the shadowy outlines of that recession are in my opinion beginning to take shape.  Some of this you have heard from me before, some of it is filling in the blanks.

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