The 2023 Recession Will Be Bad | PREPARE

"economists are warning us that next year the 2023 recession is about to get bad"

"Elon Musk is warning us that Twitter could potentially go bankrupt"

"if this line drops below the zero horizontal line right here like it already has it has reliably almost always predicted that a recession is ahead"

"the Lei the Lei stands for the leading economic index and what it does is it takes a bunch of leading indicators in the economy and fuses them into one polymerization style to give us a picture about what's called the business cycle seven months into the future and the reason that it's so amazing is because it has reliably predicted every single recession as it's defined by the nber"

"this year our GDP will finish at 1.5 percent year over year the reason that's not good is because in a healthy economy we should expect between two to three percent so this year we're going to do roughly half of what we normally should be"

"and next year it's predicting even worse"

"the CPI the Consumer Price Index which is the thing that measures inflation and it came in at 7.7 percent"

"inflation looks like it already peaked at over nine percent"

"the bad news is that prices are not coming down fast enough which means the central bank will likely increase rates again which will hurt us even more just to get rid of this inflation"

"if we do get a recession next year then we can expect the government to increase their spending to lower tax rates and to lower interest rates to get rid of the recession but for next year at least in the first half there will be more pain ahead at least according to the data"