Earlier quoted context omitted.
Why do you say the wheels were flying off the economy in 2020?
1. https://en.wikipedia.org/wiki/September_2019_events_in_the_U... 2. https://www.forbes.com/sites/chuckjones/2020/12/31/2019s-yie...
Also the trend in #2 consists if 3 data points. It might be an accurate interpretation, but curves before the '73, '80, '81 recessions didn't follow this pattern. We'd need an explanation for why that's the case, and what changed in the '90s. Without that we're just drawing a bullseye around 3 dots coincidentally close together.
Was there other evidence for a recession? I know that some people were saying we were "due" for one based simply on average timing, but that's no very compelling either if GDP growth had been relatively steady.
Meanwhile, this article [0] indicates that right before the pandemic got huge we weren't checking the boxes on a variety of things that would be warning signs.
[0] https://www.google.com/amp/s/www.cnbc.com/amp/2020/03/06/her...