I’ve heard that along with historical examples and I buy it. I agree with your assessment as well. But.. are the current hard times once again going to create strong men? Will the cycle continue or has the loop ended?
Can’t tell the future but it doesn’t look like the past. Those self correcting dynamics may be lost for a long time.
I am most certainly concerned about the length or duration of the various phases of the cycle.
They don’t generally go in years. They go in decades. Or centuries.