Recent profit reports from companies such as Amazon, Walmart, and Home Depot, along with other consumer statistics, indicate that the case for a 2023 recession is weakening, as the consumer economy shows resilience with rising real incomes, substantial savings, and continued spending in sectors like automobiles and services.
The old pre-2020 economy is not coming back, and to navigate the exciting new era ahead, business and political leaders must make wise decisions that take into account factors such as healthcare, education, transportation, housing, energy, and wider access to capital and opportunity, or risk facing economic stagnation, social instability, geopolitical turmoil, and other negative consequences.
