21 sats \ 25 replies \ @Satosora 2 Aug \ parent \ on: U.S. Job Market Signals Looming Recession news
Yes, but when has a government acted in a way that doesnt prolong it?
They love creating those worthless policies that seem to make it worse.
It pretty much only happened in 1921: https://manhattan.institute/event/the-forgotten-depression-1921-the-crash-that-cured-itself.
We have observed different levels of prolonging, though. The Great Depression and Great Recession were subjected to much more government intervention than the others and they lasted much longer.
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I think that one is just a misnomer. The end of the 19th century was a period of rapid economic growth and expansion. I don't think "the long depression" is anything more than modern Keynesian economists misinterpreting economic history.
I'm not any sort of expert on this period, though, so I'd be interested to see evidence that the standard of living was actually depressed in this period.
Yes.
Maybe that will happen again with all the government intervention.
Let us hope they dont think of something cleverly stupid.
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The best hope is an administration that's too bumbling and incompetent to respond in a timely manner. Supposedly, that's what happened in 1921. By the time they got around to addressing the downturn, it was over.
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exactly. basically, we would need a government made up of nothing but Joe bidens. completely incompetent demented zombies who don't intervene anywhere because they don't realize anything anyway
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Alternatively, it could be an administration that is constantly undermined and resisted.
It's a different world and probably not plausible to sufficiently delay state action.
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Do You really think that this type of politician exists?
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I was thinking about Trump. Most of what he wanted to do just got ignored or countermanded by his underlings and he was too thick to understand what was happening.
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Trump isn't really a politician though he is a businessman who became president and I am not sure that makes one a politician. I think in the same vein as you while that helped get him elected it also made him much more susceptible to being resisted and undermined. He didn't have the correct people around him and used his family who were out of their depth like he was still running a business.
When you reach the level of President you are going to need politicians by your side who also will buck you. As much as I hate career politicians, especially in international issues they serve a good purpose because of the relationships they build with counterparts in other nations. At the same time career politicians hated how he operated and ran things because it was so dramatically different.
If he gets elected again I think there will be less resistance because so many career people left during his first term and those that have filled in for them now know how to operate and are in positions to do so.