Wall Street is daring Fed Chairman Jerome Powelll to stop raising rates. But without a real … [+] recession and with inflation at 40 year highs, why stop now? (Photo by Kevin Dietsch/Getty Images)
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The global economy, led by the Western world, looks pretty broken, does it not? Vanguard’s not worried. They don’t think there will be a recession this year. Next year, however, the odds are higher.
Why?
The U.S. hasn’t had inflation this high since the 1970s. Europe is falling to pieces and needs to take quick action to reverse unreasonable energy costs heading into colder weather months.
Sure, a lot of this is due to war in Ukraine. But not all of it. Massive stimulus and money printing, coupled with policies geared to punish any company making something from fossil fuels, have only made matters worse.
Yet, despite Europe being “dire”, as Goldman Sachs put it last week, other countries are in similar…
