Wherever you look on Youtube you will see people predicting a global recession approaching. I agree and these are the reasons why:
(1) Global debt - Banks, governments and individuals are holding huge debts. Governments are printing money to prop up stock markets that are overvalued. Banks are lending with little ability to pay out deposits if people decide they want to draw their savings.Individuals are in the main in net debt and the size of the average debt is growing.
(2) Global disasters - You only have to look at the present panic in China re Coronavirus.Wildfires in Australia and similar things can easily happen especially USA where wildfires in California and floods in New Orleans are commonplace.
(3) Brexit and US/China trade deal. Brexit is not over there is a year of trade bartering to go on and at this early stage it isnt looking good. Similarly the US/China trade deal is far from sorted.
(4) EU banks are in serious difficulties especially Deutschebank. Is it too big to fail?? Not to mention Italian banks and their economy in general.
(5) Unrest in the Middle East. This area is a melting pot and is continually on a knife edge.
Taking the above into account any of these factors in themselves could trigger a major recession never mind the potential for several of them to happen at the same time. Personally I will be surprised if there isnt a recession within 6-12 months.