The Great Financial Crisis - What's Next for the Markets?

The post financial crisis medicine, which was made to last for years and years past the great financial crisis, finally caught up with market actors in 2022. I would add that Minsky's line and the kind of Minsky doctrine, if you will, is what really one of the great question marks is about 2023. When I say markets have thus far gotten off easy, we know the markets that haven't gotten off easy. The most speculative, the most frothy, the shiniest of objects as I talk about all the time were not 20, 30% let alone 7, 8, 9%, but were 60, 70, 80%.