Why now is the time to start thinking about the next recession

Note: This post was first published on Patreon on 24 May 2018

This is my first post on Patreon. And I think it's fitting I led off with a piece on the next recession. After all, the reason I started on Patreon in the first place was because I believed the next recession was coming -- and that this would likely mean another financial crisis.

So, I want to make the case for thinking about the next recession now. And I lot of this goes back to what I wrote last November about now being the most dangerous period in the business cycle. Here's the basic framing:

Animal spirits are a natural part of capitalist societies as people seek and make profit. Later, animal spirits take them to extremes and they recoil when those extremes end in losses. In the United States, even without a central bank...


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