Global Economic Report

Rosy Forecast for 2026

I grew up in the Midwest and in January and February lakes and ponds would freeze over and allow ice skating since the ice was thick. As spring approached (never fast enough as I got older), the ice was thinner and skaters had to be careful. The worst sound a skater could hear was ice cracking. The recognition that one was skating on thin ice became a real fear. Ignoring the warning signals provided by the cracking ice, invited falling into frozen water that no amount of hot chocolate could offset.

What do cracks in springtime ice have to do with...

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