Comment by sakopov

I think plummeting savings (down to $600B from $4T as of October of last year) is probably the best indicator of a major incoming recession. The layoffs haven't really significantly impacted anybody outside of the tech sector and I think that's in part because consumers are still spending. However, they are spending their dwindling savings, not extra cash, and getting into credit card debt. This will eventually come to an end and then it will really hit the fan. I also don't see FED stop raising interest rates any time soon which puts even more pressure on economy. It's hard to see how any of this will result in a "soft landing."