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Following the longest expansion on record, the global economy is currently plunging into what could easily become one of the deepest but also shortest recessions in modern times. However, business cycle history offers few clues for what is likely to unfold over our cyclical six- to 12-month horizon, which makes the outlook even more uncertain than usual.
This time truly is different...
There is no precedent and thus no good playbook for the global recession that is currently unfolding. Recessions are usually caused by the interplay between severe economic and/or financial imbalances building up during