We aren't supposed to say the R-word but that's what we keep finding in big ways and small - Eurodollar University

Taiwan Semiconductor reported pretty awful results blaming the global macroeconomic environment, specifically singling out inventory bloat as well as China's failed reopening. The effects aren't being limited to that side of the Pacific; the spillover is already affecting projects in the United States. We aren't supposed to say "recession" yet that's what we keep finding in big ways and small.

Eurodollar University's Money & Macro Analysis