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We know from economic indicators that the economy had started in a recession a few years ago. Which means lagging indicators (ie employment) should start indicating the downturn. Today, another indicator of the recession has appeared - the inverted yield curve.
We know this was happening. Even the Fed (who historically is slow to recognize these symptoms) finally admitted it. Many industries that do innovate (ie steel reprocessors) have already cut back. Consumers, who protect themselves, are planning today for a recession that has started (ie due to mismanagement such as tax cuts). One question remains: how serious will it be?
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