The UK & Japan Are in a Recession. Will More Countries Follow?
According to this article, the United Kingdom (UK) and Japan are technically in a recession. They’re estimating a second quarter of contraction in late 2023, which is considered a recession. Tik tok, the party is growing late and it’s almost time to go home and nurse a hangover.
Remember when I wrote “The Recession is Canceled! Party On!” and “The Magnificent Seven Stocks & Their Pending Crash”? Things have gone to high for too long and we’re way overdue for a correction. If a recession is coming for Europe, damn straight it’ll come for us.
This doesn’t make me a Bear or a fatalist, just a realist. Things have gotton too frothy in the market and I’m starting to dail back risk. I’m selling at least half of all my positions because I don’t know when things will go tits up.
Why sell half? Because it makes you look smart twice: once for taking profit and twice for either staying in the trade or getting out if he goes against you.
I’m going to keep an eye on what’s happening around the world.