3 ms·
“Recessions aren’t once in a lifetime?“ Depends on where you are. Parts of Latin America have been in an economic pit since the late 70s - I guess you could sa
by loloquwowndueo 4y ago
“Recessions aren’t once in a lifetime?“
Depends on where you are. Parts of Latin America have been in an economic pit since the late 70s - I guess you could say “once in a lifetime” - for some people, their entire lifetimes have been spent in a state of economic crisis.
- SoftTalker 4y agoYeah but for functioning economies, you can expect a recession every 10-20 years, with smaller corrections more often. I remember the talk about "stagflation" in the 1970s, though I was too young to really understand it. The boom economy that started in the 1980s crashed in 2000. I remember that well as I lost my job. In 2008 I was working in the public sector and my employment was unaffected, I also didn't have any mortgages with stupid terms, and didn't need any of my retirement investments yet so I just rode that one out. So a recession in 2022, especially given the past two years, is maybe a bit early but not really surprising.
- oneoff786 4y agoNot especially familiar but is it really a 50 year recession and not just stagnation
- t-3 4y agoMore economic and political seige and sabotage than anything that might be misconstrued as a "natural" economic fluctuation or condition.
- throway782 4y agoParts of Latin America have been specifically targeted by capitalist nations worried about the spread of South American influence on the neoliberal world order they control.