The MacroTourist

The MacroTourist

IS THIS A NEW CYCLE?

And if so, is this a "recession is coming" first cut?

Kevin Muir's avatar
Kevin Muir
Sep 17, 2025
∙ Paid

I am amazed at the number of strategists talking about how we’re in the early stages of a new economic cycle. They are making it sound like we’ve experienced a massive recession for the four years since COVID, and now, we’re finally lifting off. Huh? The S&P 500 has returned 23.64% per year since the March 23rd, 2020 low, yet they somehow believe the bu…

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