After each financial crisis, economic performance declines

The jiggy red line shows the growth rate of All Sectors Debt in the US economy.

The jiggy blue line is the Real GDP growth rate.

Graph #1: Rates of growth for Real GDP (blue) and All Sectors debt (red), 1952Q4 - 2023Q1
The horizontal black lines show the average of annual rates for each period

Each crisis is an interruption in the growth of debt.

After each crisis, economic growth (as measured by GDP) is slower than before.