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The New York Times notes a Record $2.5 Trillion in Mergers Were Announced in the First Half of 2018.

History Lesson

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Cross Border Deals Total $1 Trillion Despite Tariffs

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Economic Hangover

  • In 1989, deal-making topped out at $558 billion. By July of 1990, though, a recession had set in.
  • Companies announced acquisitions worth a then-record $3.4 trillion in 2000, and within three months the dot-com bubble had burst and the United States economy had fallen into recession.
  • Seven years later, merger activity hit another record, topping $4.1 trillion, but the economy had already slipped into recession as the year came to a close.

Will it be different this time?

Mike "Mish" Shedlock