4■e1xd context of what ian shepherdson of pantheon said today.e severe." he said that on our network earlier this morning0co c2qí=ìc% >> well, i share somet that --q pieces of that t(r i think what would make it really bad is the inflationary response. i think that if we have a recession against this financiaá system, i think that t8p fed is going to havexdlp to act very dr+m the past few recessions, it's always more spending,Ñi more quantitative easing, and quite frankly, they talk about these tools as if they're surgeo(3e o something. theseçó tools are basically quantitative easing and negative interest rates. andt( we've seen the effectçó o that that wee1lp seem to have crossed thelp rubicon. we've done this long enough that it's goingi] to be difficult to and ú looming, and this is real important, is that theÑi entitlement programs need to be reformed,j8et it's not our grandchildren's problem anymore1 the social securityé themselves admit they're out of money in nine years$x■Ñijf assu recession. and that by 11 years without reforms, we have t