We are likely headed into a deflationary depression. The BDI has collapsed. its a global slowdown. The Fed is like a hamster on a wheel. They can’t get off. As soon as they raise rates the stock market tanks and the fragile housing market collapses again. Not to mention now they are paying the national debt at a higher rate. Its all bad. I predict they either don’t raise or try to raise one time and when the SHTF they have to lower again.
That would wipe out the big players, so central banks will engage in every irrational behavior imaginable to stave it off. If it happens anyway, it will likely be due to the breakout of nuclear war - no Brussels nor London nor New York will be left to intervene.