True. The effects on the real economy should take 12-18 months but one would expect the risk markets, which are discounting mechanisms, to be declining in advance of this but so far they have not.
Discussion
Interesting. IDK about these dynamics but curious what Preston has to say about it. I personally think, we can keep thinking rationally all we want, but the US FIAT system is SO BIG and the FED is so powerful, they can literally do what they want without any consequences. They bail everybody out who will knock on their door. We won’t even notice. We could see a ‘never recession’.