By Connor O’Keeffe
Trump warns of a recession, and the blame game begins. But for real answers, skip Washington—look to the Austrian economists instead.
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57 sats \ 1 reply \ @Cje95 13 Mar
I cant remember who it was I was talking to last year about this and a stock market pull back.... I think it was @siggy47 but I could be mistaken. The market was set to pullback it just couldnt keep going up the way it was. Companies were so crazy overvalued across the board it was wild. Inflation in the US wasnt going back to 2% but everyone acted like it was and the Fed was going to keep cutting rates. That just wasnt going to happen.
Sure Trumps tariffs shook people awake but I mean the underlying issues were all there already. Government spending was absurd and as soon as it was addressed it was going to lead to selling. Same when the Fed stopped cutting rates or god forbid some disaster happen somewhere. It was going to happen and it is better it happen now way way way before election season rather than in a year when election season is in full swing.
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0 sats \ 0 replies \ @Undisciplined OP 13 Mar
The boom is responsible for the bust. Like you say, Trump's tariffs may have been the proximate cause, but whatever blew up the stock market bubble is the ultimate cause.
I was saying all through the election that it looked like the establishment was perfectly happy to saddle Trump with an economic crash.
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61 sats \ 0 replies \ @siggy47 13 Mar
J. P. Morgan
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37 sats \ 1 reply \ @scuffed 14 Mar
What recession? It's been one week of downside. Ya'll need to chill.
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0 sats \ 0 replies \ @Undisciplined OP 14 Mar
Depends on the metric, but yes this is a bit premature.
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33 sats \ 2 replies \ @denlillaapan 13 Mar
Always the Trumpman, no. He killed America; he crashed the market; he kept the war; he vaxxed the people (oh, yeah, that was a good thing, uh?).
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14 sats \ 1 reply \ @Undisciplined OP 13 Mar
It is a funny dynamic since Trump was president before Biden. I'm probably more sympathetic to attributing a hypothetical forthcoming recession to what Trump did in term 1 than what he's done the past couple of months.
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39 sats \ 0 replies \ @denlillaapan 13 Mar
that's too complicated a chain of reasoning for 90% of peeps, amateurs or profesh alike
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26 sats \ 0 replies \ @Aardvark 13 Mar
It was me.... Sorry guys 😔
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56 sats \ 2 replies \ @SimpleStacker 13 Mar
It doesn't really matter who deserves the blame, but who gets the blame, and it'll certainly be Trump.
That being said, doing the hard stuff early could set the seeds for growth when it comes election time.
I'm just trying to figure out how to position my portfolio.
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53 sats \ 0 replies \ @Bell_curve 13 Mar
Exactly
Politically for Trump better to have a recession this year than next
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40 sats \ 0 replies \ @Undisciplined OP 13 Mar
Who deserves the blame matters for understanding what went wrong. However, the answer is presumably "both".
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23 sats \ 2 replies \ @0xbitcoiner 13 Mar
That quote, it's not in the article. The recession hasn't hit yet, and Trump's already saying it's a 'transition'. The US economy was strong, so it's simple to point fingers at Trump. But honestly, it's on everyone who's been there. The quote mentions checking out the Austrian economists, but what does that really mean in practice?
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42 sats \ 1 reply \ @Undisciplined OP 13 Mar
The quote is the description of the article from the publisher. They're recommending themselves as a source of understanding.
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0 sats \ 0 replies \ @0xbitcoiner 13 Mar
👍
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0 sats \ 0 replies \ @zapsammy 13 Mar
whoever pumps their crypto bags the hardest is to blame, lol!
now, who will actually get blamed is more of a lottery.
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