Friday Charts: What if there are no more recessions?
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The notion that recessions might become obsolete gained traction in the early 2000s, championed by economists like Robert Lucas and Alan Greenspan. Their theory, dubbed "The Great Moderation," suggested cyclical economic downturns were fading in frequency and severity. This Optimism was short-lived, as the 2008 financial crisis delivered the most severe GDP contraction since World War II, disproving the hypothesis.
Market historians now view such declarations of economic invincibility as hubris. The crypto markets—particularly Bitcoin and Ethereum—have since emerged as a hedge against traditional financial instability, with their decentralized nature offering an alternative to fragile banking systems.
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