Hope sustains life, but misplaced hope prolongs recessions.
The borrowing paid for the imports that the United States bought from countries that were suffering from deep recessions and pulled them out of those recessions.
The old joke is the index has predicted 12 of the past 10 recessions.
The stock market has forecast nine of the last five recessions.
Wall Street indices predicted nine out of the last five recessions!
People have been looking for recessions for the last five years.
In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.