Recession Watch: Wow, That Was Fast

Inflation stops being a problem. Now for another Great Recession

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…