In Case You Missed This (& You May Wish You Had)

Things are looking very dicey for Europe and, by implication, for us.  According to Friday’s Wall Street Journal, the European Central Bank is now calling for a recession on the Continent by mid-year:

“We now believe that the recession will be deeper and longer lasting, and we are making forecast changes to show a peak to trough move in the level of GDP of just over 1%, with the recession lasting through the third quarter of next year. The risks around this forecast are for a deeper and even longer lasting contraction,” the bank said in its latest research note.

Let’s see.  Translated into layman’s terms, that means “Look out below!” or something similar.

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