Warning: Impending Credit Crunch & Recession to Devastate Stocks by 45%

 📌 Jon Wolfenbarger predicts a credit crunch and recession that will cause stocks to decline by 45% due to high valuations.

 📌 Inflation remains elevated, with median CPI sitting around 7%, indicating that the Federal Reserve is likely to maintain high interest rates.

 The labor market shows signs of weakness, with an increase in initial unemployment claims and continuing unemployment claims.

 The recent closures of banks and tightening lending standards are impacting access to credit for consumers and small businesses.

 Wolfenbarger assigns a 25% chance of the US government defaulting on its debt due to the potential deadline for raising the debt ceiling.

  📉Wolfenbarger expects the S&P 500 to bottom out at 2,250, representing a 45% decline from current levels.

 Market observers, including José Torres and Mike Wilson, have highlighted high stock market valuations and recessionary risks.

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