"We NEED A Recession!" Says Wolf Richter, Though He Doesn't See One Happening Soon

But he does expect a material market correction next year

There are a lot of narratives flying around right now regarding the economy, the stock market, recession risk, jobs, inflation and what's going to happen next year.

Given the recent 5%+ Q3 GDP print and one of the best Novembers on record for both stocks and bonds, bulls are back to saying "everything is awesome" again & 2024 will be a great year for making money.

Bears on the other hand point to near-record levels of overvaluation, recessionary leading indicators and warn the inevitable arrival of the lag effect will see the economy in recession next year and the return of a bear market.

When sentiment is full of such crosscurrents, it's prudent to seek the counsel of those who take a cold and calculated look at the data, to see what "is" vs what our biases may want us to see.

Which is why I was fortunate to speak with macro analyst Wolf Richter of WolfStreet.com, who shared what his charts are telling him about the true state of today's economy & markets.

As a counterbalance to many other recent guests on my program, Wolf doesn’t see the data pointing to a recession in 2024.

But he does expect a material market correction to happen relatively soon.

To hear his reasons why, just click here or on the image below:

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