>*The economy is stabilizing.*
The economy is never "stable". It is constantly in a cycle of ups and downs, over-investment and under-investment, easy money and tight money...
The current state is no more "normal" than any other period.
The economy is never "stable". It is constantly in a cycle of ups and downs, over-investment and under-investment, easy money and tight money...
The current state is no more "normal" than any other period.
Of course this behavior eventually overheats...but in terms of expectations there is definitely a stable state to an economy, even if it only last a few years.
That's pedantic and beside the point. The question is whether the economy experiences periods of relative stability. The answer is yes.
Edit: Except infinity ...