David Rosenberg: Why the so-called soft landing is just the calm before the storm

recession-1228-ph As we exit 2023, all I can think of is how it was a year replete with dichotomies and divergences. An unprecedented gap emerged between real gross domestic product growth, which signalled a soft landing had been successfully engineered by the United States Federal Reserve, and real gross domestic income growth, which provided support to the minority view that a recession had arrived. The stock market was on opposing tracks, too, with the cap-weighted S&P 500 posting impressive gains for much of the year at a time when the average and median stock represented in the S&P 500 equal-weighted…