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WTF is going on…

We have Kamala-nomics propoagandists expounding that price-controls are good for deflation and half of America believes it…

And now, we have US Leading Economic Indicators down for their 29th straight month – at a level worse than the trough of COVID lockdowns…

…and the head of The Conference Board says 'nothing to see here'…

For context, outside of the great financial crisis, this is the worst decline in LEI since the mid '70s!!!

She goes on to explain just what a shitshow the data is…

…but no recession, nope!!

And what is behind the 'no recession' call… US equity strength!!

So, to summarize – almost all the macro data signals weakening growth for years… but because stocks are up (and credit spreads down), there's no recession anywhere on the horizon!!??