The prices of stocks, bonds, houses, fine art, and other assets soared to heady highs during the pandemic, paving the way for a historic crash and a painful recession, the market historian and GMO cofounder said.
2."It's bad enough just doing the equity market in 2000. This time, we have done a dead ringer for the equity market, plus for gravy, we've done the housing market and the bond market." 5."It's generally tough to get the market to go down between October 1st and the end of April, which is in six weeks' time. It's like the short sellers' graveyard. Then all bets are off, and back to the meat grinder."
8."When you write down perceived value by many trillions of dollars — and it will be more than $10 trillion by the end — and you've got multiple asset classes contributing, they all have consequences. And you should not be surprised if a chunk of the credit system comes under stress."
the 'everything bubble' - good way to sum it all up inflation
We are in and have been in a recession; regardless of an arbitrary line.