Morgan says we're seeing stagflation. While the global economy is shrinking, prices continue to rise.
The yield curve has inverted regarding the 3 Month and 10 Year Treasuries. This signals a recession, Morgan says.
With respect to the stock market, he sees weakness in the Dow and sees it going lower.
Unless the Dow gets above 27,000 with strong volume, he is not optimistic.
Morgan sees a crisis ahead, but should people be afraid? No, says Morgan. "The more aware you are of it, the more prepared you are mentally."
