One thing we know for sure -- A huge portion of the S&P 500 is exposed, the average consumer is pretty tapped for credit, and if people's stock accounts / 401ks go down they naturally retract their spending some. Which means a recession across all but necessities.
Plus loan rates are high meaning rational people either pay less for, or completely avoid buying houses, cars, and all the things that go with (furniture, yard maintenance tools etc)
Plus loan rates are high meaning rational people either pay less for, or completely avoid buying houses, cars, and all the things that go with (furniture, yard maintenance tools etc)