In an ominous sign a recession is on the way, the U.S. Index of Leading Economic Indicators ticked down four-tenths of 1% in May, following a decline of four-tenths of 1% in April. The LEI has a history of rolling over definitively before every recession since 1950, except for the Covid-19 recession. Comprised of 10 indexes, the LEI is a reliable forward-looking indicator of the foreseeable future. The LEI was doing just fine until Ap..