All right, let's go a little further, y'all. So let's talk about four stages in the recession.

I want you to understand these stages is important. There's four stages in a recession. I want you to understand these status is important.

There's four status in the recession. First one is the full recession.

Consumer expectations are failing, interest rates are falling, and the year curve

is normal.

Early recovery, consumer expectations rise, interest rates have bottomed and the yield curve is steeper.

Late recovery, consumer expectations decline, interest rates rise in the yield curve flattens.

In the early recession, consumer expectations are at their worst, interest rates are high in the

yield curve is flat.

Now, I've explained to you I just get you the four stages so recession comes in four stages one two three four

What you have to do now as an investor, right, as an investor is look and say,

okay, let's figure out where we are in the recession.

If we know they got four stages, right? Early recession, that's where it starts at, right?

Consumer expectations are at their worst. Interest rates are high and the yield curve is flat.

So in the beginning of the recession,

this is when the news is pumping recession, recession,

recession, recession, recession, recession, recession, recession, recession.

I won't spend a little time right here because this is important for us to understand.

In the earlier stages of the recession, this is when the consumer, remember we talked about earlier, exuberant consumerism.

The earlier status of the recession, interest rates are high, the consumer is at its worst.

This is when you're panicking.

Think about when you first heard about the recession.

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