"Events tend to be bad. Trends tend to be good. And the world focuses each day on events, like we are. It was a dramatic day in the market, so we're having this conversation."
Larry Summers on the August 5, 2024 episode of the Honestly podcast, "What to Do When the Market Drops? Call Larry Summers"
It is expected US economy to drop by up to 40%.
Dropping speed yet to be negotiated but is inevitable.