In a surprise move Friday, Governor Tony Evers hastily appointed former Democrat State Treasurer Sarah Godlewski Secretary of State after Doug La Follette suddenly resigned the post he’s held for nearly half a century.
Consider it a gift to the far left Godlewski, who ceded last year’s Democratic Party nomination for U.S. Senate to former Lt. Governor Mandela Barnes in his losing campaign against Wisconsin’s Republican senior U.S. Senator Ron Johnson.
The spread between 10-year treasuries and 2-year treasuries, a leading recession indicator whose inversions have predicted almost all of the U.S. economic recessions in modern history, on March 31 inverted for the first time since Sept. 2019.
When the 10-year, 2-year spread inverts, a recession tends to result on average 14 months afterward, sometimes sooner, sometimes later. The one time there was a head fake on the 10-year, 2-year was in the mid-1990s at a time when inflation was much lower Visit Site than it is now.
As an aside, potentially the Sept. 2019 inversion might have ended up being a premature indicator, too, but then Covid and global economic lockdowns in early 2020 went ahead and ensured a recession even if one was not due. On the other hand, at that point it had been 11 years since the prior recession and so the business cycle was going to end sooner or later.