This argument over the binary question of whether we are, or not, in a recession is so strange. If we are, it's the strangest recession I've ever encountered,

This argument over the binary question of whether we are, or not, in a recession is so strange. If we are, it's the strangest recession I've ever encountered, with sky-high, record levels of job openings, rising wages, lots of robust job growth, expanding manufacturing, rising prices, product shortages, etc. There are a lot of headwinds, and the business cycle indeed seems to have turned down. Based on rising rates, reduced credit, and an increasing trend of layoffs, I bet we are indeed heading into a recession. But it sure does not feel like it currently.