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I think it's incorrect to blame the current depression entirely on Covid-19. Economists have been predicting a depression by the end of 2020 or 2021 for a whil
by nabnob 7y ago
I think it's incorrect to blame the current depression entirely on Covid-19. Economists have been predicting a depression by the end of 2020 or 2021 for a while - on HN I remember lots of discussions around the inverted yield curve. There's been a tech bubble for the past couple of years, and covid was just a catalyst for this bubble popping.
- blast 7y agoEven if there was a tech bubble, what's the evidence of that bubble having affected the entire economy to that degree? This sounds exaggerated.
- seanmcdirmid 7y agoThere are lots of bubbles going on all at once. The tech bubble is one thing, but the bubbles in China being popped right now are much more significant, on the scale of the great Japan bust that set the world into recession in the late 1980s. It isn't weird that many bubbles would pop during the same incident of stress.
- lostapathy 7y agoMaybe we shouldn't start calling it a depression before it actually is one? If that becomes the media narrative, it will be a self-fulfilling prophecy.
- 3minus1 7y agoNice theory, but do you have a shred of evidence. Economists predict things all the time that don't happen; it doesn't really mean anything.