Rickards: Yes, It’s a Bubble

August 02, 2023

by James Rickards Daily Reckoning

There are signs of recession everywhere and these are good indicators. It’s not just sentiment or guesswork.

I’m not going to get into the weeds here, but things like inverted yield curves and negative swap spreads, among other indicators, are all pointing to recession. In addition to those technical indicators, manufacturing is down, global trade is down, etc.

Europe’s in a recession right now, Japan is hanging on by a thread, and I haven’t even talked about China. China’s reopening after COVID has been a bust and it’s probably getting close to recession as well.

So significant portions of the world are either in recession or flirting with recession.