The pensions be not happy. Germany in industrial contraction this quarter, US growth pegged below 1%, Australia shaky, and even China straining with trade plummeting and housing moderated.
Who is crashing? No one, except maybe the market, but we hope they can take the smooth ride down. Maybe not, too much concentration yields sudden price resets.
I don't see the need for an economic crash, we all been diagnosed with the sectags, we know the drill. We could do this one more cycle, probably. It is a risky call, have our plan B ready.
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