Expectation is that across the world, sustained med-high interest rates will cause deflating of multiple bubbles, Private Equity, zombie multinationals, residential+commercial RE.

It doesn't feel like a "black swan" but some of these approaches to making money could be going away. Dropping interest rates and printing money requires a set of circumstances which aren't there.

Deflating those bubbles will destroy a lot of individual wealth, that is where it's going to get bumpy.