US and european media is celebrating the youngest miracle: the US and the Eurozone seem to avoid a recession - worst case scenario: a soft landing.
Now let's watch the best recession indicator: the yield curve. It shows the steepest inclination since decades and points towards a strong recession.
But what is going on that numbers show the opposite? It's war economy, state demand and pure keynesian manipulation of money and gross demand.
That's exactly what is inflating the GDP for the last 3 years: artifical state demand meanwhile the private sector is contracting steadily. Watch the real job numbers, the participation rate to get an idea of the real economy we are facing. It's a free fall...