“We might avoid a recession altogether.”
Housing? Prices dropping, defaults and foreclosures increasing. Long way to go here (imo)
Commercial realestate? More shoes dropping. The whole mess is spreading. I’m not betting on avoiding recession.
You gotta understand that William J. O’Neill and IBD are the permatouts to beat all permatouts. These guys entire business model is based upon an ever continuing nonbursting Greenspanian credit bubble.