Economy is about to take a nose dive if you haven't been reading the tea leaves. This is both pre-emptive for the coming downturn and a correction for the covid over hiring. Buckle up.
Housing prices will continue to be an indefinite bubble due to boomer economics.
Healthcare is a disaster in this country and will never be fixed because of Citizens United.
None of this is due to the economic downturn.
What is boomer economics?
Total nonsense. Businesses are closing.
Like, for example: an end to pauses on payments for debts, expiring eviction bans/moratoriums, companies looking to dump housing and commercial buildings causing a collapse in prices that other financial instruments depend on, government shutdown (and financial consequences of just the threat) leading an enormous group of already marginal people to fall over the edge.
And that's just a few minutes of coming up with plausible things. Something has to give and, historically speaking, something will.
[1] https://www.marketwatch.com/story/a-100-billion-drag-on-u-s-...
Soon after they started hiking the rates there were some of the biggest bank failures in US history which amounted to nothing much because they basically hit snooze on it by effectively promising to back 100% of deposits well above the FDIC threshold. Supposedly this measure runs out in a year from when it was made.
I’m not going to try and predict what and when exactly is going to happen. If you like lines and extrapolation, you can go to the St Louis fed website and plot yield curve inversion and effective fed rate.