You don't need a PhD to see an iceberg. You just need eyes.

The Federal Reserve employs over 400 PhD economists.

They have the most sophisticated models in the history of finance. And yet, not a single one of them can produce this chart.

Why? Because academic complexity is often a mask for blindness.

They are so busy fine-tuning their "soft landing" simulations that they are missing the blunt force trauma staring them in the face.

We are heading for a massive recession. The pilots are flying the plane, but they are looking at the wrong instruments.