dave on Nostr: this has been a really tough one - what seemed like a well telegraphed recession from ...

this has been a really tough one - what seemed like a well telegraphed recession from a major hiking cycle, inverted yield curve and bank failures hasnt played out yet due to printing, helicopter money and massive fiscal deficit spend.

obvious consequences are $ debasement and price inflation, unaffordable housing etc, but they've kept the music on for now. recessions seem to need a catalyst which i thought were the bank failures but they stepped in with BTFP

federal debt and interest expense % of budget are becoming a major problem as James has pointed out which means ever more debasement