108 months of global easing by the Fed, ECB, and Bank of England comes to a halt.

Global tightening is on the way. What can possibly go wrong?

I took an excellent chart from a Liz Ann Sonders Tweet and added recession dates.

Note that in 2001 it did not take much tightening before a recession started. Then like now, the Fed was positive everything was under control.

Global Growth? Retail Sales Flopped in US, UK, Canada, Germany, and Australia.

Bear in mind, tightening will not cause a recession. Central bank policies for the last eight years will cause the next recession. It should be a doozie for corporate profits and pension plans.