This is not a good summary of things to come. If we echo the Great Depression, it will take more than a year to get to the bottom.
Warsh has already telegraphed that he won’t bail out the economy.
If we can lim&p into 2028, it makes no difference. Our complete mismanagement has global consequences. The Chinese are being mismanaged even worse. Hence the deflation for 10 quarters.
This is a new economics that is far fetched.
Just about all of us are of an age where we can observe but not fully appreciate what is happening. Most of you are not in the office any longer, and all of us are not putting money to work like a youth finding a casino.