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   From: black.whore@splcenter.org   
      
   On 25 Jul 2021, Kurt Nicklas  posted some   
   news:sdk5ts$9fp$19@news.dns-netz.com:   
      
   > Kick Biden in the fucking nuts until he resigns.   
      
   The latest U.S. economic data suggests a recession is coming, according to   
   the chief executive of financial advisory firm Longview Economics, and   
   investors may need to prepare for some pain in the stock market.   
      
   Speaking to CNBC’s “Squawk Box Europe” on Friday, Chris Watling said he   
   believed a recession was on its way, citing what he described as “pretty   
   compelling” and “brutally bad” leading economic indicators.   
      
   The Conference Board on Thursday said its Leading Economic Index for the   
   U.S. fell by 1.2% in March, slipping to its lowest level since November   
   2020. The data appeared to indicate that economic weakness could soon   
   intensify and spread throughout the U.S. economy.   
      
   Alongside this warning signal, Watling said the typical timeline for a   
   recession after the inversion of the Treasury yield curve, which first   
   inverted in March 2022, then again in the following months, was roughly   
   one year or so.   
      
   “Every time you’ve had that in the U.S., you’ve had a recession. So, I   
   think it’s coming, it’s on its way. It’s just a timing issue,” Watling   
   said.   
      
   While many economists have warned of a looming recession, the   
   International Monetary Fund suggested only last week that it had been   
   surprised by the recent strength of the U.S. labor market and consumer   
   spending.   
      
   The IMF on April 11 released its latest World Economic Outlook report, in   
   which it said it sees the world’s largest economy expanding by 1.6% this   
   year, up from the 1% forecast in 2022.   
      
   Gita Gopinath, the IMF’s first deputy managing director, told CNBC’s   
   Joumanna Bercetche last week that signs of cooling inflation data had   
   given the fund reason to believe the U.S. economy could avoid a recession.   
   However, a so-called hard landing was still “within the realm of   
   possibilities,” she added.   
      
   Earnings expectations ‘way too optimistic’   
   Asked on Friday whether equity markets could come through an expected   
   economic downturn relatively unscathed, Watling replied: “I mean they   
   won’t come through it unscathed in our opinion. I’m not even sure about   
   relatively.”   
      
   “The reality is if you look at profit margins, they went to record highs   
   in 2021 and a bit of 2022, and of course when you have a lot of inflation   
   around, you can get very good operating leverage so you can get record   
   high profit margins,” Watling said.   
      
   “When you get into recession, we’ve got to do a double hit on profit   
   margins. You’ve got to normalize them back to normal levels and then   
   you’ve got to price in a recession. So, I think the expectations for   
   earnings are way too optimistic and therefore the stock market will have   
   to contend with that at some point.”   
      
      
      
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