There is something similar and similarly tragic that takes place in the wider macro context. The perpetual optimism of each global reflation is at first always extrapolated to the most extreme. The reappearance of positive numbers in whichever set of economic accounts is converted into the definitive sign that the economy will go on forever in its best state.
This has happened, of course, several times so far across the last eleven years; including once in the middle of 2008 especially in the US where for brief time in the spring Economists and Fed officials actually thought the American economy might avoid recession altogether.
https://www.alhambrapartners.com/2018/10/09/the-macro-downgrade-cycle/
