[76543210]

In 2013 I wouldn't be predicting a recession.

In 2017 after Trump announced tariffs and it was ~10 years since the last recession. I was concerned.

Maybe stock prices were fine, but multiple companies I've worked for became unprofitable and got rid of tens of thousands of contractors.

Recession? Definitions are toxic to the real problem.

[ailideex]

> Recession? Definitions are toxic to the real problem.

Okay, then lets not use them. Is what we are seeing now primarily a consequence of of COVID-19 or not?

[paulmd]

> Is what we are seeing now primarily a consequence of of COVID-19 or not?

"is the 2008 crisis primarily a consequence of mortgages or not?"

In the grand scheme of things, no, it's a consequence of a bubbled economy that has been goosed with tax cuts, extremely low interest rates, and deregulation for too long and is overdue for a correction. The proximate cause is Covid but it just was the spark that lit the fire, there was lots of fuel building up.

https://en.wikipedia.org/wiki/Necessity_and_sufficiency

This is why you don't cut tax rates and keep interest rates super low when the economy is already roaring. Now we're out of options for dealing with a real financial crisis.

Trump of course understands none of this since he's a narcissistic con man who just understands "tax cuts = economy more better!". Insofar as he can be said to understand anything - he's not a man that can be described as intellectually curious.

[magduf]

>Insofar as he can be said to understand anything

Well, while he doesn't seem to have much understanding of economics or how to run a government properly, let's give credit where credit is due: he certainly seemed to understand how to get people to vote for him a lot better than his political competitors did.

[mnm1]

That's why he got less votes than his opponent.

[magduf]

Are you seriously bringing that up again? He won the election. The number of votes is irrelevant. Maybe that's why he won: he actually understands this simple fact about how the Constitution works, and people like you either don't, or simply refuse to.

[mnm1]

> he certainly seemed to understand how to get people to vote for him a lot better than his political competitors did

This is false. The fact that he won the election is completely irrelevant to this point. The election isn't won by the candidate who understands how to get people to vote for him. If it was, he'd have lost.