Your Tuesday Morning Dose of Doom & Gloom
Have this with your coffee:
At some point over the next few years, the rate of money flow and inflation will start to catch up to each other, eventually sending the economy into a recession, according to a new analysis from banking analyst Dick Bove.
The good news in Bove's forecast is that the day of reckoning is probably four years away.
The bad news is that a 7 percent rate in the 10-year note looms out there, something that would put a severe crimp in the current debt-happy economy.
I'll say it again. The only reason we get a four-year window is the weight of the Wiggleroom Administration on the private sector has squeezed all the life out of it. There's no velocity of money when people are hunkered down, expecting the worst.
And so here it comes.