Recessions usually don’t happen when everyone is screaming about a coming recession. All you heard on CNBC back 2007 was, “recession? What recession?” Hell, I’m old enough to remember when people thought the tech boom of 1999/2000 would usher in a new golden era of economic prosperity and technological utopia. Remember Pets.com, anyone?
What we’re experiencing right now is a correction, and we’ve been due for one for a long time. Bull markets lasting a decade, especially ones where the majority of the bull market has been totally bifurcated with an actual rise in job participation (i.e. a “jobless recovery”) are especially unhealthy.