To understand the general state of the economy in 2022 requires a history lesson dating back to the latter decade of the last century, according to Brian Doyle of Doyle Salewski.
There were 8 million American bankruptcies, and six million homeless positions created.
With many of the firms deemed “too big to fail”, Doyle says the solution was one of “quantitative easing”- printing enough money to see us through.
Doyle says in the pre-COVID era, we had essentially already used up our economic wiggle room when the pandemic prompted spending on a scale never seen.
The Doyle Salewski President says we’re currently dealing with inflationary pressures, but over the next couple of years deflation is also possible, as baby boomer spending is restricted, and technology constrains millennial income opportunities.
