How many people under 35 know that Greenspan held an "emergency" Fed meeting in 1994 to RAISE rates 25 bps? This idea the Fed exists to print money and keep ra

How many people under 35 know that Greenspan held an "emergency" Fed meeting in 1994 to RAISE rates 25 bps? This idea the Fed exists to print money and keep rates low is just not reality. This is over extending the recent past as some kind of stable process. This is going to be extraordinarily painful. So much of the economy, risk preferences, expectations have over aligned to an unsustainable zero interest rate environment that is gone for a generation. The biggest bubble ever popped last year if you look at Wilshire 5000 vs GDP but most people don't even realize we were in such a massive bubble yet. We were not talking about the dot com bubble in summer 2000 either though. We were just talking about how do we get back to the bull market. We are still at the denial stage.