Everyone was caught pants down with the sudden downturn. I am honestly surprised that people expected to keep this gravy train running but I guess the Russian w

Everyone was caught pants down with the sudden downturn. I am honestly surprised that people expected to keep this gravy train running but I guess the Russian war threw the monkey wrench in the works. In Absolute terms of capital destruction, the current downturn is the worst ever in this history of US .. so far. And paulg from yc is wrong that its just capital shuffling. he probably doesn't understand that much more money is created by mortgage loans than QE. Bankruptcies, QT and even loan repayment all remove/destroy money from the pool.