The Negative Wealth Effect Could Be Devastating

The negative wealth effect could be really devastating and this goes back to just you know like being around for multiple cycles here. There's not a leverage problem in the system the way it wasn't oh wait no no I would submit that that is in fact the case. Now it's a confidence problem which some could say it might even be worse because once those dominoes start to fall. If they seem dovish the inflation problem is just going to manifest itself again, if they seem hawkish we're going to get it on the back end.

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