Recession misses America’s asset owners while hitting everyone else

Nearly half of the United States is slipping toward recession. However, according to financial newsletter Kobeissi, wealthy asset holders are feeling a much “nerfed” impact compared to households strained by rising debts, stagnant wages, and job cuts. The Kobeissi Letter, sharing a chart from Moody Analytics, reported that 23 states are now in recession or at high risk of entering one. Those states represent almost a third of total US economic output, a deterioration from September’s findings which counted 22 states, with the addition of Michigan. 23 US states are fighting a losing battle with recession Struggling parts of the country are states in the Midwest, Northeast, and Northwest, where those marked in red include Washington, Oregon, Montana, Wyoming, South Dakota, Minnesota, Iowa, Michigan, Illinois, Virginia, Connecticut, and Maine. States supposedly in the clear include Texas , Florida, Louisiana, Arizona, North Carolina, and Georgia. Those mentioned to be in the...

https://www.cryptopolitan.com/us-asset-owners-are-not-living-in-recession/