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118 - Raoul Pal | Should We Be Scared Right Now?

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The Great Moderation

Each one of these will get less but i think we've got a few more of these cycles to get through. I'm just struck by how fast this is happening, and like how quickly the whip lash has been and i'm wondering if we've seen that at any time in history, if this is a historic moment. So it used to be. So we've just come through what's known as the great moderation. So the great moderation basically started in about 19 90, and that's when we start using interest rates as the main tool to manage the economy. And so what happened as we dampen the business cycle.

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