This seems to be happening. The stocks related to Steel, Iron Ore, Coal have already moved up from Below Book Value to P/B of 2.0 to 3.0.
No one was talking about this 2 years back.
This is reversion to mean which has happened.
Banking and Credit Business should continue to prosper for next decade as the habit of people can not change over time unless their are major calamities, wars and unpredictable situations. These situations could surface during 2024 and hence caution is needed at an individual level, but mostly broader trend of spending beyond your limits should continue.
Saving rates are already at the lowest so they may not go down but still Credit growth story looks intact.
This is my personal opinion and could be wrong.
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