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Slack.com slash DHQ. This is CBS Eye on the World. Here's John Batchler.

The word is recession. We've repeated that word for it feels like a full year all through

22. And here we are in 23, not here yet. Even the United Kingdom, which is going through

a very bad patch of haphazard government and strikes across the landscape, but especially

with the National Health Society. It doesn't yet have the recession. It says that it's

on the way, not yet. There are outlying voices that say no recession. Outliers. Goldman

Sachs is one of them. No recession. US. No recession in Europe. There's even hesitation

by the world's solar systems, biggest bank, Morgan Stanley. Mild recession, like a weather

forecast. I welcome Jim McTake, longtime Washington editor of Barron's magazine, now a novelist,

because Jim has seen all this before. Many times, Jim and I have reflected on our youth.

You tend to associate the word recession with the first recession that bit into your prospects.

And Jim and I remember the recessions of 1973, 74, Richard Nixon in the White House in

a great deal of trouble because of shenanigans in the 72 election. That recession was joblessness,

was long lines at the unemployment office to pick up your check manually was what you'd

have to say. The inflation at the marketplace was obvious. I recall to Jim sometime in

that period of the 70s that a tin of tuna went from 69 cents to like a dollar 19. It's

a dim memory, but that is what inflation looks like at the food store. Jim, a very good

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