Right because this time we're in a much larger asset bubble than we were back then.
At this point it wouldn't surprise me if we don't go into a recession because the larger the bubble gets the more desperately we need to keep some air in it. It would not surprise me to see cheap money return only because the alternative might, at some point, be the collapse of the entire systems.
We'll keep the bubble going so as long as we can, but the longer we punt this off the more extreme the breakdown is going to be.
Right because this time we're in a much larger asset bubble than we were back then.
At this point it wouldn't surprise me if we don't go into a recession because the larger the bubble gets the more desperately we need to keep some air in it. It would not surprise me to see cheap money return only because the alternative might, at some point, be the collapse of the entire systems.
We'll keep the bubble going so as long as we can, but the longer we punt this off the more extreme the breakdown is going to be.