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#374: Morgan Housel on the Psychology of Money

The Pomp Podcast

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Are We Living in a New World of Management of the Business Cycle?

I don't know that if we can look at the new world, and I think people need to accept and acknowledge that that is a new world. Policymakers have a totally different view of where the ceiling is than they did even a decade ago. So how do you measure demand, future demand in that world where even record high unemployment rate leads to record high income and spending? It might be that policymakers are better, much better at managing business declines than they were in the past.

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