Dr Doom predicts a coming depression

[Starkiller]

It’s reasonably long and I’m not going to quote bits because there is too much to quote. Less about the current crisis and more about the years to come. Such a cheery read of our future...

 

https://nymag.com/intelligencer/2020/05/why-the-economy-is-headed-for-a-post-coronavirus-depression-nouriel-roubini.html?utm_source=tw&utm_campaign=nym&utm_medium=s1?utm_source=digg

[OILERMAN]

What’s going to be funny is if the fed and congress are able to prop up The market with all the QE and other big spending while the middle class suffers through major unemployment and wage problems 

[Starkiller]

2 minutes ago, OILERMAN said:

What’s going to be funny is if the fed and congress are able to prop up The market with all the QE and other big spending while the middle class suffers through major unemployment and wage problems 

Looking back through our history, the only reason we got “socialist” (based on modern Republican ideology, at the least) reforms was in order to counter clear societal problems. Unions, workers rights, anti-trust, social security, Medicare, etc all came about because the public demanded change. The pendulum may soon swing back that way.

[Justafan]

35 minutes ago, Starkiller said:

Looking back through our history, the only reason we got “socialist” (based on modern Republican ideology, at the least) reforms was in order to counter clear societal problems. Unions, workers rights, anti-trust, social security, Medicare, etc all came about because the public demanded change. The pendulum may soon swing back that way.

The problem is organization.  The interests of big business are VERY organized and have done a great job (depending on pov) of crippling the effectiveness of any entity that pushes these agendas, which they see as a direct threat to their bottom line.  Worse, they've essentially cornered the market in Washington by outspending everyone else, and they've managed to convince enough people pro-worker is "anti-business" which rings much worse than it is to those who are very economically inclined.

 

There has to be balance for everything to work as it should.  50 years ago, the environmentalists and the unions had far too much power and businesses were getting taken to the woodshed, much as they do in many European countries now.  Today, however, the roles are reversed and so I hope you're right and the pendulum swings.  

[thor]

54 minutes ago, OILERMAN said:

What’s going to be funny is if the fed and congress are able to prop up The market with all the QE and other big spending while the middle class suffers through major unemployment and wage problems 

 

Did you ask Madcow for your answer!!! LOL!!!  LOL!!!

[thor]

8 minutes ago, Justafan said:

The problem is organization.  The interests of big business are VERY organized and have done a great job (depending on pov) of crippling the effectiveness of any entity that pushes these agendas, which they see as a direct threat to their bottom line.  Worse, they've essentially cornered the market in Washington by outspending everyone else, and they've managed to convince enough people pro-worker is "anti-business" which rings much worse than it is to those who are very economically inclined.

 

There has to be balance for everything to work as it should.  50 years ago, the environmentalists and the unions had far too much power and businesses were getting taken to the woodshed, much as they do in many European countries now.  Today, however, the roles are reversed and so I hope you're right and the pendulum swings.  

 

What a fucking dumb ass... Shit Vinman STFU!!!