Michael Cowan: Credit Default Swaps Surge and New Data Proves this Recession will be Far Worse

The financial news cycle often feels like a tale of two economies. On one hand, the stock market indices are hitting new highs, largely propelled by the spectacular performance of a handful of mega-cap tech stocks—the “Magnificent 7.” On the other hand, a quiet, alarming chorus of economic indicators is warning that the foundation beneath this prosperity is cracking. A recent deep-dive analysis by Michael Cowan suggests that we are witnessing stress signals eerily reminiscent of the period leading up to the 2008 global financial crisis. The disconnect between a soaring stock market and a deteriorating Main Street economy has…