The US government is spending as if we are in a crisis:

US government expenditures as % of GDP just hit 43%, matching levels seen during the 2008 Financial Crisis.

To put this into perspective, spending as a % of GDP is just 1% below World War 2 levels.

Even at the peak of World War 1, US government spending as a % of GDP was 20 percentage points LOWER.

Meanwhile, the Fed continues to call for a soft landing and economic data is "strong."

This is a crisis.