> because the execs are panicked about the outlook of the next few years.

yea old self fulfilling prophecy.

so your execs are world class economists in addition to being lawyers?

or they are a bunch of scared old guys who want to protect their share of the firm, so they can keep on buying their houses and cars and watches?

Ask them why they are laying off and freezing hiring before the event occurs? Isn't that sort of assuring they'll lose business, have less revenue, make less money right now (ummm, tell me again, how do we get into a recession - oh yeah, by shrinking). They can always lay off when it actually happens (cause they don't care about people - just $$$$)

I put zero confidence into the ability of your execs to be economists (I give only a little more to actual economists). However, it is that blind groupthink that will become a self fulfilling prophecy and get us there.