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Morgan Stanley with the note. I 100% agree. The recession panic begins in the US but its ends in China as its collapsing property market is hit by OMIRCON closures and an external shock on the US demand air pocket…
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With the focus on inflation and the Fed now an obsession, it’s time to pivot to growth and how much it will decelerate. We remain more concerned about growth than most and Friday’s consumer confidence number should not be overlooked in that regard. Correction remains incomplete.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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