For those who may be interested, my view is that we are in the turbulence at the end of the deflationary cycle which began early in the Reagan years.
Remember the horrible inflationary cycle which ended by about 1981?
In 2020 the very serious danger was not inflation but its absolute opposite: Great Depression. Personally I believe the government’s money bombing the economy possibly saved a much larger economic catastrophe (i.e., another Great Depression).
It’s true the next inflationary crisis may be the BIG ONE; but it is likely a few decades away.
I think the 2008 fiasco was the end of the cycle and everything since then, quantitive easing multiple times, has been trying to keep it afloat until the plandemic.
Trump stepping in when he did disrupted the original idea for a nearly complete collapse during the plandemic so they could implement their new economic plans.
Now they are stuck being blamed for it all. I still think it comes down, but because of the changes Trump/Kudlow/etc made it will be in a more controlled fashion.
Question now will be how long and painful it will be.
Just glad I’m not carrying any debt into it all and that I convinced my girls not to have any at this stage in their lives.
How keynesian of you.
Maybe we should stop thinking that the government drives the economy.
Thomas Sowell agrees.