Do believe me however when I tell you the last downcycle lasted from 1990-1997 and the proceding runup wasn’t anything like the one we are coming off of.
That’s exactly what worries me with the idea of soft landing that some people are suggesting. If there’s a crash, we’ll see the same cycle length. If we have a slow soft landing, it might take one or two decades for inflation to catch up. Personally, I’d rather have crash and rally than flatness for decades.
