No Matter How You Turn It, The Global System is Already Doomed: Got Gold?

• No Matter How You Turn It, The Global System is Already Doomed: Got Gold?
  by Matthew Piepenburg, https://goldswitzerland.com/
  Below we look at the interplay of embarrassing debt, dying currencies and failed monetary fantasies masquerading as policies to confirm that no matter how one turns or spins the inflation/deflation, QT/QE or recession/no-recession narratives, the global financial system is already doomed.
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  Recession: The Elephant in the Room
  As I’ve been arguing in report after report, my view has been that the US, with its 125% debt-to-GDP and 7% deficit-to-GDP ratios, was, and already is, in a recession heading into 2023, despite official efforts in DC to re-define the very definition of a recession.
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  But a recession is still a recession, and an elephant is still an elephant, and both are fairly easy to see at a distance. As of now, however, the recession has officially been avoided.
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  How comforting.
  As with the inflation data, it’s nice when the folks in Washington can exercise their magical powers to move the goal-posts in mid-game whenever a little “cheating” helps their odds and fictional narrative. For me, an elephantiac recession is now in the room.
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  The Empire Manufacturing data in my latest report, for example, supported this recessionary outlook. In case, however, we still need more recessionary evidence, the dramatic 6 month decline in the Conference Board’s index of leading indicators serves as yet another neon-flashing warning that the recession—if not under our bow—is certainly right off our bow.
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