Here comes the global recession

David Llewellyn-Smith

Thursday 21 April 2022

Goldman has some useful charts that capture the moment. Its current activity indexes are crashing

Especially for EMs which did their monetary tightening last year:

With the US about to tighten financial conditions like you would not believe:

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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.