Look at that trajectory one more time and tell me how 'expected' it is.
The first stages of a worldwide recession is what it looks like to me.
https://fred.stlouisfed.org/graph/fredgraph.png?g=1T9dv&heig...
There are way more retired people as a percentage.
https://fred.stlouisfed.org/graph/fredgraph.png?g=1T9dv&heig...
There are way more retired people as a percentage.