Bloomberg/Denitsa Tsekova and Emily Graffeo/12-9-2022
“The steady drumbeat of warnings that the American economy is careening toward a recession finally struck a nerve on Wall Street.”
USAGOLD note: It is interesting that as the sentiment shift described in this article took root, the price of gold began moving higher. if accurate, this description of the change in the ruling psychology on Wall Street from Academy Securities Peter Tchir will be significant: “We will shift from seeing ‘bad data’ as being ‘good’ to bad data being bad because it is a signal the economy is weakening faster and worse than most expected.” Stagflation, in short, will step to the forefront as stagflation with all its negative effects on the economy, and if that is the case, things are about to get considerably more complex for the average investor.
