On the 7th anniversary of this blog, we are finding ourselves in the midst of a deadly pandemic and the biggest macroeconomic shock since possibly the Great Depression. I hope everyone out there is staying healthy, practicing good mitigation, and still has a job.
The next seven years on the blog are going to be different — gone will be the days of tracing the path of the macroeconomic equilibrium, replaced with following the first non-equilibrium shock since the information equilibrium framework was formalized. Will we see a sharp rise in unemployment followed by the typical decline we've seen over the past century in US data? Will there be a step response? I hope the economy recovers from this shock faster than it has in the past, but I am not optimistic.
PS The post title is a MST3K reference to "The Final Sacrifice". Here's to wondering if there is beer on the sun.
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