Where are we in this cycle?
- I believe 2003-2006 were the years of economic "thrill" and "euphoria", brought about by easy money, cheap credit and the housing bubble.
- "Anxiety", "denial" and "fear" were all likely crossed in 2007 - fear being reached during the 2007 global credit seizure.
- One could then argue that 2008 was the year of desperation and panic brought about by unprecedented foreclosure rates, collapsing home values, cratering stock market, credit collapse and significantly increasing unemployment figures.
- What about today? My thoughts are included in chart.
So what do you think? Where are we in this cycle?