When you're playing chess and your opponent creates one weakness, you can defend it. No problem. You have the resources.You can go defend that weakness. When they create a second weakness, you can't defend both. And that is what leads to checkmate.One of the things we've talked about for the business cycle is that the Fed can defend one weakness. If inflation is running hot, then they raise rates. If the unemployment rate is running hot, they lower rates.What do you do when they both go up. That is what lea ...