It is somewhat tautological to point out that an economy can operate above normal capacity only for so long. Ultimately, factor utilisation rates, and with them output, must return to normal levels — or worse. What goes up must come down. But when, how far, and how fast?
![What goes up must come down](https://www.fathom-consulting.com/wp-content/uploads/2018/03/Mr-B-US-economic-cycles-since-1960.jpg)
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