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Who else feels a looming sense of economic disaster? For the past few years it seems like it's on the horizon but then the markets end up going higher and highe

• bequanna 5y ago
  It is easy to forget, maybe because it was relatively brief, but disaster occurred a little over a year ago both in the markets and the economy. The aggressive action of central banks and governments made this pain relatively short lived for the average person. The cost of that action: maybe just a deferral of the pain? It is entirely possible that we traded a medium length “shutdown” recession for much more painful inflation or lit the fuse on some other crisis that we aren’t even aware of yet.
  • AnimalMuppet 5y ago
    > It is entirely possible that we traded a medium length “shutdown” recession for much more painful inflation Well, there were a lot of people who were going to be out of work, unable to pay rent, evicted, and homeless. That would have had knock-on effects as those people quit buying things, which hurts more businesses, resulting in more layoffs, and so on. Instead, people may face inflation, which could give them worse circumstances than they had pre-Covid. It's going to hurt. But it's going to hurt a lot less than the homelessness would have, and it's going to destroy a lot fewer businesses. I don't like the inflation, but I suspect that it was a good trade-off. > ... or lit the fuse on some other crisis that we aren’t even aware of yet. Yeah. That's worryingly plausible. We've moved into an area of the possibility space where we don't have much data. We now have to avoid catastrophe as we find our way back out, but we don't know what the set of possible catastrophes are in this new area.