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Whats scary is we are still basically in pump mode from the last recession. The gov will not have much power to "fix" the next one. Not to mention the major debt many states carry now such as IL.

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Nope, especially since we'v been loath to raise the interest rates. Lowering rates is often used to stir economic growth. We've been near zero for quite a while now. If it hits soon, the fed won't have much water to put out the fire.

https://tradingeconomics.com/united-states/interest-rate

Note: Click the Max button on that chart for perspective of where the rate is now relative to historical rates.

That definitely puts some perspective on things. It's a little bit absurd it was at 0% and it stayed there for so long. Never in the previous history (at least of the graph history) did it stay at the same rate for so long.

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