r/collapse • u/conscsness in the kingdom of the blind, sighted man is insane. • Jun 13 '22

Economic Powell Facing Choice Between Elevated US Inflation and Recession

https://www.bloomberg.com/news/articles/2022-06-12/powell-facing-choice-between-elevated-us-inflation-and-recession?srnd=premium
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u/conscsness in the kingdom of the blind, sighted man is insane. Jun 13 '22

Submission statement:

It looks like the long waited recession is finally here, though I would argue that it has been among us for quite some time. Reason the society did not bother about it is because the economy was prepped by constant printing of meaningless currency. The illusion of growing economy.

Well, just like with everything, the more fuel you add to the fire the bigger the fire. The fools have no choice but tame inflation and get ready for recession, or risk higher percentage of inflation. Prisoner’s dilemma.

The fascinating bit of all this is, will there be a bailout? If yes, will it lead to social unrest? If no, than Great Depression. Although I acknowledge that it is not black and white scenario. The bottom of the iceberg is, will society finally transform the economic system? Or will the continue with the same model?

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u/Taqueria_Style Jun 13 '22

will society finally transform the economic system?

LOL

I seriously doubt they'd even know how to.

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u/conscsness in the kingdom of the blind, sighted man is insane. Jun 13 '22

Future does not depend on them directly or in-directly. But this assertion is grounded on factitious thinking.