to be fair no matter who was president in america, a (global) recession was always on the cards, the economic model when coupled with biden's (and successive US governments) policies simply hastened the day thats all (in my opinion). ultimately there are alot of factors that led to where we (the planet) are, my understanding is that a global aid package/plan would be needed to get us out of this train but that this is unlikely to occur, ergo onwards we head towards that cliff.

also sorry for trolling you re: Quote, i couldnt help it, it was on a silver plate lol.

This post was edited by ferdia on Jul 28 2022 11:35am

What if i told you the president be it trump or biden, only has small influence on stuff like inflation. In good times and in bad times.

This post was edited by BaHgerAUT on Jul 28 2022 11:34am

well trump or biden, to my mind neither would have had the ability to stop what we are about to see happen.

indeed, the global recession driven by several factors has always been coming.

over printed money, over inflated stock prices, covid, ukraine war, etc. take out any factor and it happens regardless.

Trump in 2016 said paraphrased "i am the only person who will call the stock market a bubble, its a bubble, its over priced, and it needs to be fixed". then when if office he bragged about the index prices like it was good. we needed to clamp down BIG at that time in fed lending, maybe then 75 point increases would do something, now its just shuffling deck chairs on the titanic. they need to make money so expensive that no bank would even bother to borrow because they cant sell loans at a profitable percent. we're talking crashing the housing, auto, and student loan markets all at once. and for the greater good. but of course they'll just keep selling low interest loans then bail out the banks when it crashes, and it will, soon.

yes to that, too long a conversation to respond to the other bit (im sick at the moment ok!)

feel better!

kekw

Would it really be for the greater good?

The engines have stalled, the plane is going down. we can start to look for a field to put it down in a controlled manner or we can simply fly straight losing altitude until we crash into the side of a mountain.

good? no. greater good? yes. pray we can find a way to regulate issues so we're not facing the exact same issue (fed brrrr, bank interest issues, stock market bubbling, etc). otherwise it just happens again.

we live in a world where a depression doesnt bring the country to it's knees. its not the 1920s where elites are losing mansions, its not the 1930s where people are starving in the streets. this lack of serious issues with economic downturn means downturn is no longer a problem they need to prevent. its an opportunity now.