I knew that, actually think it started November 2007.
I postulate that our current recession started in February of 2016, and will finally be over in 1998.
More of a crisis of confidence in the ‘New Direction’ starting Jan 2007.
The crisis of confidence really started when Charlie Rangel promoted his Mother of All Tax Hikes in August 2007. You knew this economy was going down the tubes when ‘Progressives’ promoted punishing the producers.
Investors played amongst the margins but when the ‘Enronization’ of the financial system was exposed and the culprits in DC colaborated in this disaster to leverage power, the real confidence evaporated. As in the last Great Depression, it’ll take about a generation before investors have faith in the system.
Capital is engaged in flight to safety.
I must be in the wrong lifetime, because things for me have only really hit their stride since about then, and seem to keep getting better.