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Global tightening is on the way. What can possibly go wrong?

I took an excellent chart from a Liz Ann Sonders Tweet and added recession dates.

Note that in 2001 it did not take much tightening before a recession started. Then like now, the Fed was positive everything was under control.

Global Growth? Retail Sales Flopped in US, UK, Canada, Germany, and Australia.

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Bear in mind, tightening will not cause a recession. Central bank policies for the last eight years will cause the next recession. It should be a doozie for corporate profits and pension plans.

Mike "Mish" Shedlock