pull down to refresh
57 sats \ 1 reply \ @Cje95 13 Mar \ on: Who Gets the Blame for the Upcoming Recession? econ
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.
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.
reply