re: US officially enters recession - GDP contracted by 0.9% in Q2.

It took COVID, the Russian invasion of Ukraine, and China's periodic shutdown over the last two years to finally break the global supply chain and get us to where we are today. Summer and early fall is usually the budgeting season for businesses, so I'm sure we'll start to see result of those exercises getting executed by year-end or early 2023.

I wouldn't worry about a mass layoffs yet as this crisis is a slower and longer term growing pain rather than over leveraged financial sector bubble.

Unfortunately no amount of stimulus or interest rates will help us dig out of this hole until the businesses slowly reorganize their entire value chain and the world learning to live without Russian oil and less Chinese labor.