With the recent news that the contemporary bull market is the longest in U.S. history comes an increasing spate of forecasts of impending recession or worse, an event that would undoubtably ripple world-wide with implications for all private schools. What makes these stories especially scary is not that there is data behind the news–in fact, not much has changed among economic indicators–rather that the psychology that moves markets seems to be shifting in a negative direction.
An example of the above is this hot-off-the-screen story reporting global corporate executive responses to McKinsey’s periodic confidence survey. For the third straight quarter, McKinsey’s survey shows declining confidence in the strength of future corporate performance. Sooner or later this will translate into reality.