Yep, and this false precursor narrative by Yellon 👇 is eerily familiar, having lived thru the 2008-09 GFC. Same story just different players and bigger numbers, unfortunately.
So more papering over to come.
Discussion
Oh, and a good heuristic: whatever the Fed or Treasury says publicly, they’re probably gonna do the opposite 😂
Especially true during times of inflection (aka financial crisis).