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81% of economists predict recession in 2020-2021
submitted 11 months ago by magnora7 from bigthink.com
[–]Goober_notorious2 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 0 fun4 insightful - 1 fun - 11 months ago (3 children)
Interesting... But, I kinda found this part weird:
"62% of the survey respondents indicated an overheating economy tied with the tightening of the Federal Reserve interest rates as reasons things will get worse."
a) "overheating econony"? What even is that lol, describing it that way makes it sound obviously bad... but, it just sounds like a shitty excuse...the capitalists whining about too much consuming? Ok....
And, b) this feels meant to both discourage change/approval of change (here re: the fed) and discourage attention to the fed's interest rates... while also kinda acknowledging recessions are inevitable overall
[–]magnora7[S] 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 0 fun4 insightful - 1 fun - 11 months ago* (2 children)
They have kind of weird language, but usually "overheating economy" means too many people and companies have too easy of loans, so there's too much money floating around, usually lent by banks, that isn't backed by real industriousness or production. Like before the 2008 mortgage crisis, everyone and their brother had a loan that was more than 100% of the value of the house, it was a recipe for disaster. I guess they're saying we're seeing a similar thing now.
I agree about your b point. They definitely want things to appear like "business as usual" while they manipulate the economy to high heaven
[–]Goober_notorious2 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 1 fun4 insightful - 2 fun - 11 months ago (1 child)
Ohhh ok, thank you! then I guess I should have
just lumped my thoughts together because "they" already designed it to overheat lol
[–]magnora7[S] 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 0 fun4 insightful - 1 fun - 11 months ago (0 children)
Yeah all the overheating is from banks getting easy fiat money from the federal reserve. It's amazing we don't have more inflation than we do, tbh. I think all the money is trapped at the upper echelons of the financial economy so it doesn't affect food prices too badly. But it's certainly affecting housing prices.