John Rubino's Substack

John Rubino's Substack

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John Rubino's Substack
John Rubino's Substack
Recession Watch: Wow, That Was Fast

Recession Watch: Wow, That Was Fast

Inflation stops being a problem. Now for another Great Recession

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John Rubino
Nov 16, 2023
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John Rubino's Substack
John Rubino's Substack
Recession Watch: Wow, That Was Fast
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One of the many surprising things about the Everything Bubble was the way interest rates kept rising. A lot of observers (including this one) believed that in each successive bubble, the “terminal” interest rate — that is, the rate that starts to break things, causing a crash — would be lower because the amount of bad debt was always rising.

In the hou…

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