16 Feb 2023 11:39 am
johndnorth » 16 Feb 2023, 11:39 am » wrote: ↑ The economy is headed for recession. Consumer debt is at all time high. Layoffs have already started. Inflation is rising. Senile Biden and the Fed share the blame. Senile Joe and the dems passed uncontrolled spending. Biden declared war on the Oil companies and the rising costs of energy have driven prices up on everything The Fed said inflation was transitory and did not start to tighten in time to stop inflation. The incompetence of Yellin and Powell is historic. Powell needs to raise interest rates at least to the rate of inflation and the faster he raises rates the sooner the inflation will end. Deflation?? hahahahaaaaa.
The word on Wall Street is that the recession will probably be a "soft landing". That means that the crash will come sector by sector and not all at once. At least that is the theory. We've already seen that with tech. Still, the question is can Biden really change how the economy will turn when the eventual downturn begins? The business cycle is inherent in any market economy.
Nothing is easier than defending the status quo.