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We Are Headed For A Deep Recession | Jesse Felder
The Macro Trading Floor
Macro Trading Floor - Is There a Recency Bias?
Inflation forward swaps, or any other measure of what the market is prizing in, there is a pretty clear downward slop being prized in. And so people are looking at priced earnings ratios and saying, you know, stocks aren't that expensive right now. But those are forward p e ratios that are pricing in rapidly growing earnings, a return to no earnings growth and record profit margins. Inflation is very, very damaging. You look at just what small businesses are telling us right now, they're telling us, we're seeing pressure on the top line right consumers are saying a demand is waning,. At the same time, small business costs are rising rapidly. That's very clear warning
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