Why my base case for 2020 is recession
Edward Harrison | Aug 13, 2019 | 3 | 1 |
Back at the end of July, I was talking about my macro thesis. And I led off writing this:
The US is the laggard in this slowing but is affected as well. From a markets perspective, that means a convergence to zero, with yield curves flattening as nominal growth rates contract.
I didn’t mention the word recession of course. That’s because we’re not there y…