Fed hiking rates = tightening M1 money = deflation (classically) = recession, depending length of duration = great depression equal to 1928<gamed flattening the money supply>1929 to1933.
The fly in ointment is that M1 has not tightened.
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Fed hiking rates = tightening M1 money = deflation (classically) = recession, depending length of duration = great depression equal to 1928<gamed flattening the money supply>1929 to1933.
The fly in ointment is that M1 has not tightened.