Have you ever heard of a survey where 100 percent of the respondents agree?  I can't ever recall seeing one like that, but as you will see below, 100 percent of the corporate CFOs that were just surveyed by CNBC believe that a recession is coming by the end of next year.  At this point, our economic troubles are growing so rapidly that you would have to be deaf, dumb and blind not to see what is happening.  A meltdown of historic proportions has already begun, and there is economic gloom just about everywhere that you look.

But even though the U.S. economy is clearly moving in one direction, I still didn't expect to see this sort of a consensus among corporate financial executives…

According to the majority (68%) of CFOs responding to the survey, a recession will occur during the first half of 2023. No CFO forecast a recession any later than the second half of next year, and no CFO thinks the economy will avoid a recession.

The CNBC CFO Council Q2 survey is a sample of the current outlook among top financial officers. It was conducted among 22 chief financial officers at major organizations between May 12-June 6.

Of course they are right on target.

The months ahead are going to be very difficult.

And with each passing day we continue to get more evidence that the economic slowdown is accelerating.  For example, it appears that a "transportation recession" has already begun…

A downturn, if not a full-on recession, is clear in the transportation world. While the rest of the economy debates whether things are that bad, it's been clear for months to logistics providers that the situation has worsened — and the velocity of that change is still stunning.