The recession will hit in the first half of 2023 and the Dow is headed lower: CNBC CFO survey

[Warpy]

1. No more relief money to steal and they know their taxes might go up

so they can't buy back their stock and goose the price forever. The party is over, the hangover is going to be tremendous.

Right now, there are a few loud drunks left amid the empties and the pall of cigarette smoke. The drunks will pass out soon and the stink will settle over everything in the room, that rank after-party reek that takes days to dissipate to where smokers can't smell it.

The bottles and glasses will have to be collected and disposed of, the streamers torn down the confetti swept up, and everybody agreeing that they're going to let somebody else throw the next bash, their heads hurt and they can't keep anything down and the whole world stinks and it's just not worth it any more.

IOW, I think it will be a very long time before the Dow comes close to 40,000 again.