Pay attention

https://www.businessinsider.com/recession-outlook-hard-landing-economy-inflation-job-market-signal-slowdown-2024-8

The economy is flashing a recession signal that's only been seen 4 times in the last century, veteran economist Steve Hanke says

Jennifer SorAug 20, 2024, 8:23 AM PDT

The Johns Hopkins professor issued a bearish outlook on the US economy in an interview with the wealth advisory firm Wealthion on Tuesday. His forecast is tied to a troubling backdrop for the US on a big-picture level, Hanke said, pointing to the contraction in the money supply, or the total stock of money flowing around the economy.

M2, one type of the money supply, boomed during the pandemic amid loose monetary policy but has fallen over the past few years. The total stock of M2 money supply was around $21 trillion in June — 3% lower than its peak in 2022, when the money supply measured at around $21.7 trillion, according to Federal Reserve data.