I totally agree, and in fact have thought this very thing for a long time. I also think that the whole toilet paper shortage was the result of a worldwide rumor mill. Here we are in a supply chain crunch, but we have toilet paper. During the height of the pandemic? Fear buying actually created the shortage people were afraid of. It’s a similar principle, I think. Crowd mentality can make major shifts happen.

I think we could avoid a recession if a few things happen to shift sentiments, including any combination of inflation tapering off, gas prices going down, hiring numbers going up and hopefully some sort of positive resolution in Ukraine. Positive news will spur people to believe a recession is not imminent and spend money accordingly.