I'm feeling curiously blase about the crash itself, though my interpretation is that it is NOT just the pandemic, but the pandemic as a trigger for a preference cascade around fragility and structural unsoundness beliefs.
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Trump trying to take the credit for it over the last 3 years is an irrelevant sideshow. There is no credit to be taken, and the blame is spread out about uniformly among those with power since 2000 or so. They were all kicking this tin can down the road.
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Makes me think he won't actually suffer politically for this, since I don't think anyone seriously gave him credit for the "boom" to begin with... but he'll probably pay for prioritizing trying to save the false narrative rather than addressing the material crisis.
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Oddly enough, though I'm more vulnerable now than I was in 2007-08 (older, less securely employable/giggable, more responsibilities, more retirement savings ground to make up) I think that one actually hit me harder mentally. This one has me going "what took so long?"
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End of conversation
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Good take. I had this exact conversation with someone earlier and I agree with you
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Can you substantiate or suggest readings on this take?
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