Confidence is the fundamental currency that determines whether the economy trends towards growth or recession. And recent events by these privately held compan

Confidence is the fundamental currency that determines whether the economy trends towards growth or recession. And recent events by these privately held companies show a keen lack of confidence in my opinion. That they’ve all chosen to IPO now at the same time gives you a strong indicator to look at. You might disagree with my final determination on what it means exactly, but the fact that it’s happening is undeniable. As to macroeconomic indicators, I think the majority of them are largely useless as predictors and at best self-fulfilling in nature.