Q And deliver the same quality services by having competence and accountability and, you know, firing a lot of useless, useless bureaucrats. But, but assuming that we don't put dictator Lonsdale in charge here, because that's not how our country works, uh, and that these guys can't get their act together in D.C., Then there's gonna be crisis instead. What does a crisis look like?
A So, my guess is, and this is just a guess, and he who lives by the crystal ball will eat glass, but that it looks more like a slow bleed out than one sort of imminent moment. Uh, of course there will be shocks, but I think what it looks like is for a protracted period, 12, 15 plus years, uh, rates are higher than they would otherwise be, because there's this big gap In demand for bonds and exogenous demand. So similar to your example of that housing development, if because the government is spending too much and not matching that to income streams for years and years, we have just elevated bond levels exogenously. That's going to really hurt the real economy.
AI assessment note: “it looks more like a slow bleed out than one sort of imminent moment”