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Gold Bulls Are Impatient: Will They See a Recession in 2020?
One year ago, we wrote that "we do not expect recession next year or even in 2020". We were right: the U.S. economy did not slide into a recession in 2019. But will it happen this year? After all, the current economic expansion lasts 127 months. We know that expansions do not die of old age, but we also know that the next economic crisis will one day arrive, sooner or later. Twelve months ago, we were skeptical about a downturn in 2020, as "the lack of clear typical warning signs that preceded the past recessions put the 'recession in 2020' narrative into question". However, we were quickly forced to change our stance ... (full story)