Why the Next Downturn Will be So Bad in the US

We all know a recession is coming at some point.  They simply.  I remain impressed that one was averted in 2016 by the application of thin-air money.  It took several trillions of dollars globally, but it worked. The reason it did, I suspect, is because it went directly to the main transmission mechanisms of the overly financialized economies of the US and China.

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