The closing numbers of the Dow Jones Industrial Average are displayed at the New York Stock Exchange on May 17. If the current US expansion continues until the middle of next year, it would be the longest in US history. It would be rare for an expansion to last more than a few years beyond this point without overheating. Photo: AFP 
Kerry Craig
Opinion

Opinion

Macroscope by Kerry Craig

A global recession is on the way, but it’s likely to be mild

Kerry Craig says while a down cycle will inevitably follow America’s currently buoyant growth, a catastrophic downturn like the 2008 global financial crisis is unlikely. Debt levels are more manageable, and the imbalances in the economy less severe 

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The closing numbers of the Dow Jones Industrial Average are displayed at the New York Stock Exchange on May 17. If the current US expansion continues until the middle of next year, it would be the longest in US history. It would be rare for an expansion to last more than a few years beyond this point without overheating. Photo: AFP 
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