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"It's hard" and "it's impossible" are very different beasts, and I said the former and not the latter. I think that the fact that the US economy is still growin
by dodobirdlord 7y ago
"It's hard" and "it's impossible" are very different beasts, and I said the former and not the latter. I think that the fact that the US economy is still growing despite disastrous trade policy and oncoming global downturn illustrates my point. Years of national and global scale economic mismanagement haven't yet managed to drive the US economy into recession. (Also, the Fed is pretty good at its job.) In comparison, during the financial crisis, issues with a particular asset class in the US economy within months causes a worldwide recession due to increased assessment of credit risk and corresponding tightening of lending that had to be mitigated with massive bailouts to prevent a death spiral.
As a further example, during the financial crisis many banks in perfectly healthy condition were forced to take bailouts so as not to inflame the perception that certain banks could not be trusted.