Unpopular opinion: The US has been in a “depression” since 2008 when interest rates hit 0%.

It just doesn’t feel that way to most people because the economy has had a band-aid on it in the form of non-stop Quantitative Easing which has inflated asset prices, and created a positive wealth effect.

Debts are higher than in 2008, and the Fed still hasn’t let the economy deleverage like it naturally wants(needs) to.

something something something… #Bitcoin