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>Do grocery baggers and bar tenders benefit from an economic depression? People need groceries even during a depression. Its often said alcohol is recession p
by throwaway_USD 6y ago
>Do grocery baggers and bar tenders benefit from an economic depression?
People need groceries even during a depression. Its often said alcohol is recession proof, in fact alcohol sales seem to thrive even during a pandemic.
I'll tell you what isn't
>Do you think Obama made the right choice to stimulate the economy in 2008? This is exactly the same thing.
Actually Bush took out a Stimulus of ~$800-900B before he left office and then Obama took our another $800-$900B when entering office. And I would say the vast majority of people I speak with would rather have seen the banks fail rather than taxpayers bailing them out (for massive fraud they perpetrated to issue bad loans/mortgages and then package them up and sell them to others knowing they were "toxic assets"). Banks used taxpayer money to buy their competitors to concentrate the market and fund foreclosure litigation to foreclose on the taxpayers that bailed them out. In hindsight most people agree the Bush/Obama bailouts should have gone directly to the homeowners, but it was considered a "moral hazard" encouraging bad behavior in the future, whereas ironically they didn't see the moral hazard in rewarding the banks that bear the most responsibility.
- mennis16 6y agoYou just nitpicked his two examples (and for a nitpick back bartender != liquor store clerk). I don't know enough about econ to have a side here but I would be interested in hearing a counterargument that actually addresses the impact of economic downturn on the class of jobs being discussed here (waiters, retail, cleaners, drivers, etc.)