The U.S. economy is already in the process of entering a recession, according to an economist who specializes in how sentiment affects markets.
Peter Atwater predicted that a large amount of malinvested capital will be wiped out and areas of the economy that have historically been resistant to crises may not be so this time. His research indicates that the economy is under the influence of “confidence cycles” and when consumer sentiment shifts toward the expectation of a recession, the market will actually enter one.
