Colin has typed many times that the so-called business cycle goes up and goes down at irregular intervals. The cause and thereafter the effect seem to rhyme but are never the same. A true cycle should be the same process over and over again. But the business cycle downs are instead triggered by something that is different each and every time.
One common thread is a huge loss of asset value. The cause of this huge loss varies but the outcomes are largely similar.
This time we are seeing a loss in Texas in the value of homes, businesses, corporate assets, and infrastructure. At this point in time it looks like trillion$ in value has been lost and the replacement (if funded), will cost our economy really a lot. This downturn will likely cause a relatively immediate recession IMHO.
What should I do with my moolah?
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