It's not just the massive downside also the speed at which it has developed.

The #federalreserve is pausing while the ECB is aggressively hiking #interestrates all at the same time the People's Bank of #china is cutting theirs. What is going on with the global #economy? The answer is #recession and #deflation though those haven't yet knocked #inflation down enough for some of these central bankers. 

Eurodollar University's Money & Macro Analysis

ECB: Monetary policy decisions
https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.mp230615~d34cddb4c6.en.html

The spokesperson of the National Bureau of Statistics answered reporters' questions on the operation of the national economy in May 2023
http://www.stats.gov.cn/sj/sjjd/202306/t20230615_1940669.html

Wang Xin, chief statistician of the Industry Department of the National Bureau of Statistics, interprets the industrial production data in May
http://www.stats.gov.cn/sj/sjjd/202306/t20230615_1940658.html

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Jeffrey Snider (The Promoter) is acting as a promoter for an investment advisory firm, Atlas Financial Advisors, Inc. (AFA). Jeffrey Snider is affiliated with AFA as a promoter only and is not in any way giving investment advice or recommendations on behalf of AFA. The Promoter is being compensated by a fee arrangement: The Promoter will receive compensation on a quarterly basis, based on the increase in account openings that can be reasonably attributed to the Promoter's activity. The Promoter will not be receiving a portion of any advisory fees. The Promoter has an incentive to recommend the Adviser because the Promoter is being compensated. The opinions expressed on this site and in these videos are those solely of Jeffrey Snider and Eurodollar University and do not represent those of AFA.