...yet Wall St can hope for a mild recession at worse, you'd wonder how it could be mild when the signs we have today spells even greater danger than what we had in 2008 (which was primarily a housing crisis).
..what we have today we didn't in 2008
* a far more overvalued equity market still adjusting and retracing to the mean
* 70s like inflation rate levels
* war and geopolitical disorder
* sovereign bond market issues
* unwinding of crypto madness
* substantially higher debts across all levels (corporate, government, individual, margin)
* far higher levels of derivatives that could implode
* a pandemic that seemingly does not end
* China was growing well back in 2008, today it is in a very different place
* operational challenges stemming from climate change, pandemic, geopolitics
* prospects of higher political and regulatory costs and finally
* a far more dividing world
