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To be clear, my point is that everything will be more expensive and that a recession is objectively bad for all but maybe the richest Americans.
by apawloski 2y ago
To be clear, my point is that everything will be more expensive and that a recession is objectively bad for all but maybe the richest Americans.
- rayiner 2y agoJ.p. morgan predicts a 1.5% consumer price level increase this year from the tariffs. The 43% example in the article will be at the extreme high end. Recessions affect different people differently. The stock market boomed during the Obama recovery from 2008, and during Biden, but most people didn’t feel it so much. A financial recession would be borne mostly by the laptop class.
- apawloski 2y agoThis feels like a return to initial point. "yes, it is a recession, but it won't be THAT bad" >A financial recession would be borne mostly by the laptop class. This is where I think you're not living in reality. Recessions are bad for the middle and working classes. They eliminate jobs, deflate wages, and make important things unaffordable. And it really feels like it could have been avoided.
- rayiner 2y agoKicking the can down the road to avoid a recession—like Obama dis with quantitative easing or Biden did with massive deficit spending—hasn’t proven to be a good idea.