My view is this:
The Markets and the economy have at their root only two things that everything else balances on. Credibility and Trust, everything else uses those two things to some degree greater or lessor.
The credibility has been in doubt for some time now I think is the time for trust to start dissipating. Neither of them is totally gone but there is a LOT of doubt now.
A very astute and ACCURATE assessment of the situation that’s unfolding.