- cross-posted to:
- latestagecapitalism
- cross-posted to:
- latestagecapitalism
Kept seeing this clip of Barry Sternlicht laughing about a “nice little recession” so I thought I’d share.
For what it’s worth, this isn’t the first time I’ve heard someone hoping for a recession. My stepdad told me this and I don’t understand why he’d want that.
According to him the only way to combat inflation is for us to go into a recession. But wouldn’t that cause a different form of chaos?
I’m uneducated on inflation vs recession but I know for a fact through lived experience that inflation sucks, and I’ve heard recession is also shit so why ask for one?
Anyway if this doesn’t belong here please let me know so I can post it somewhere else, I’m still getting used to what posts belong in what communities.
Okay, this is such an accurate observation. Because when I’m around my step-father, especially driving around with heavy traffic, he always complains about how “nobody wants to work” even though there are “plenty of NOW HIRING signs” he passes on the daily. He says this after I’ve explained to him many times how the hiring process in this day and age works and how employers aren’t nearly as desperate as they appear, this same man hates unions too. I think he just talks politics to me because he finds my reactions entertaining. I don’t know how to explain to people how a recession would be shit, economics have always been hard to understand for me. I live in Canada so maybe our situation is different but I know Galen Weston Jr. (Loblaws guy) has been making record profits on our suffering.
Regardless of what anyone thinks of that whole crowd that got behind the GameStop stock those people have been breaking down the inner workings of not just the US stock market but the US economy as a whole and how fucked it is. It’s where I learned about how big of a farce the actual reported inflation is, how bad things really are for banks, why the push to end remote work is all because of the impact to corporate real estate which is used as collateral for banks and hedge funds in their stock market gambling. The fact that the US economy is doomed no matter what. They keep printing money to bail out the rich? We get hyperinflation that puts us into recession (already ongoing and why they are lying about the inflation rates). They raise interest rates to try and curb inflation? The rich get fucked and businesses fail because the whole of our economy is held up by debt. Banks are teetering on the edge. The only reason we haven’t seen as many bank failures as 08 is because there just aren’t as many banks left. They all got bought up ito bigger and bigger banks that the government will bail out because they are “too big to fail.” The tower is reaching it’s max height as they take more and more stones from the base to build it up. And when it falls the ones at the top have the best chance of survival so they will never stop trying to be the stone at the very tip.
The question is, how far are they willing to go to keep the farce running? History and even recent events say “anywhere and nothing is off the table”
They will see every person below them dead before they gave up any of their power. We see that now. The fed tried to raise the rates and the second it started to impact the oligarchy they let off as much as the could. There is simply no stopping it though. If they hiked the rated high enough to cause an real impact to inflation the whole thing crumbles. They do nothing to stop hyper inflation, the whole thing crumbles. They are doing damage control. The stocks are having a high right now because they are pumping it so they can sell at the top and try and buy it all up when it hits bottom. They think they can keep playing it like they have been for decades but when this thing goes it’s gonna gooooo. Look at it this way. When they raised the debt ceiling 3 months ago… They’ve already added 1.8 TRILLION dollars onto the national debt. Want to know how long it took to put on the first 1.8 trillion on the nations debt?
Aye, that’s exactly my concern. What will they do when it goes?
Pull a fascism.
Fascists with nukes and a gigantic military, filled with bloodied murderers, that’s been in one “anti insurgency” operation or another non stop for the past 70 years. Lovely
Honestly thought you lived here in the US because how your stepdad acts is so relatable to dealing with most people down here, lol.
Canadian conservatives don’t really have original thoughts, they just copy America’s notes lol.
Canada and America are stupidly similar, Canadians just like to act like they’re different but we’re just different fonts. Both have similar colonial origins so it makes sense why our conservatives would resemble each other.