Leaderboard

Excellent point and well made- and at the end of the day @Gregmal will see his frugality suggestion to folks play out en masse.....the Fed to a certain extent, via interest rate rises, is a kind of frugality alchemist......that is attempting to initiate & create a frugality wave in the USA......first by influencing credit creation demand & supply.....which hits spending....which then hits unemployment......as anyone who lived through the GFC knows.....somebody in your inner social circle losing a job and demonstrably struggling to find another one.....unleashes interesting recession behaviour in the folks around them or as @John Hjorth quite rightly calls it "rationality & frugality" behaviour......which gets my vote for what a recession should actually be called....a spontaneous & widespread breakout of rationality & frugality. Chair Powell......should be renamed Chairman of the 'new' group called the F.E.D.......Frugality Expectation Department