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cal_dentlast Friday at 7:34 PM0 repliesview on HN

This is a wider concern. And partly the issue where economies have become very reliant on monetary policy being the controlling mechanism rather than a better mix of monetary and fiscal policy.

The fear now comes in the rock and a hard place issue that is ongoing here, whereby interest rates/monetary policy are arguably still not in restrictive territory enough that if a downturn was to occur, our coping tool is to loosen policy further but that would likely stoke further asset inflation and potentially general inflation compounding other issues.

It's why you get more leaning to the view that it might be necessary to just let things fail as a resetting mechanism, which I'm personally not sure about.