The Soft Landing crowd isn’t as smart as you make them out to be. They think prices will go down 5%, and then plateau. After a few months or a year, they will rise again, at the historic level of 3-5%.

Remember that most Americans prefer watching Survivor (is that still on?) and going to the movies and standing in long lines for overpriced coffee drinks, over reading economics and figuring out the definition of baseline, upcycle, paradigm, permabull, and the other words you mentioned.

My sister is a surgeon, and she didn’t have a single class in med school about billing codes, marketing, setting up an office. Likewise, high school and college graduates can get out of school without ever understanding inflation, interest rates, central bank policies, and the fact that the prominent world economy shifts every several hundred years (Spain, France, England, US, China,…).

I know half the people are smarter than average, but they choose not to think about money/economy because it doesn’t occur to them that they should!

So they sit back at night, watch TV, and let their company HR department decide which mutual funds they should select for their retirement plan.