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Ultimately, we will not avoid a deflationary event that will be unlike anything any of us have ever seen.

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Inventories of ‘spec’ houses are now at the highest level since 2008 which saw the worst of the Great Financial Crisis

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Layoffs are intensifying, the last inflation report was not promising, the stock market is reacting negatively and many retirees are thinking about going back to work. Seems to define a stagflationary recession doesn’t it?

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There is a lot going on globally that will, in my view, create some additional headwinds for the US economy moving ahead.

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Regardless of what you call it, a recession is here in my view. And the data suggests it will get worse before it gets better.

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Real estate is now at the beginning of a decline that will rival the plunge in prices experienced at the time of the Great Financial Crisis.

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The evidence suggests the onset of a housing crash that occurred at the time of the Great Financial Crisis may be getting close.

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The “Inflation Reduction Act” passed recently will do nothing to reduce inflation.  It increases federal spending which can only be financed via additional currency creation by the Federal Reserve.

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Only in Washington DC could a group of politicians pass a massive spending bill that will likely require more currency creation and call it an “Inflation Reduction Act”.

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Using the longstanding and widely accepted definition of recession, the United States now finds herself smack in the middle of one.

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