They sky is falling! The sky is falling!
‘Cheap money’ has only been around since about GWB’s 2nd term. Hardly 20 years.
Many of us remember the rising prices/interest rates that started during the Nixon-Ford era and skyrocketed during the Carter era. We adjusted. We survived.
The current hyperbole makes for newsies filling up print space/cable air time. The economy is like a pendulum — it swings back and forth, usually taking a couple or more decades. These used to be called economic corrections. Painful yes. But necessary.
We are beginning to pay in pain for the near-zero GWB interest rates.
Oh yeah. Many lost jobs, livlihoods, considerd suicide for the insurance pay out, lost their homes and had bad credit for a decade or more.