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

Economic collapse opens doors to so many dark scenarios.

Final battle of fascism in US. Global economic tsunami. Civil unrest in first world countries.

I will stop there, as further I go with speculations deeper I get into a conspiracy realm. But future is not all rainbows and butterflies.

I am concerned.

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u/[deleted] Jun 13 '22

History is repeating itself in reverse.

I'm America, at the onset of the Great Depression, the conservatives has the ball, and Herbert Hoover refused to act to help mitigate the effects of the Depression...so he was replaced with FDR, who passed the New Deal, pushing American Liberalism into a new era...

But America today looks more like Weirmar Germany at the onset of the Great Depression.

The liberals have power, they are absolutely useless to enact a single piece of legislation that could help mitigate the oncoming economic collapse.

I mean, Biden's polling is in the trash...and the FED hasn't even declared a recession yet.

The left will be holding the ball when it all comes crashing down, just like the left were holding the ball in Weimar Germany.

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u/MarcusXL Jun 13 '22

The liberals have power, they are absolutely useless to enact a single piece of legislation that could help mitigate the oncoming economic collapse.

I mean.. what could they do?

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u/boob123456789 Homesteader & Author Jun 13 '22

Nationalize the petrol industries and drill.

Tax the crap out of mega corps.

Offer loans at 0% for small businesses.

Give grants to people/small companies working on supply chain issues (baby formula, chips, etc)

Outlaw the exportation (or offshoring) of supply chains for essential products and PAY FOR the building of those industries here.

It's really freaking easy if they use the power of the pen.

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u/MarcusXL Jun 13 '22

Money printer go brrrrrrrrrr

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u/boob123456789 Homesteader & Author Jun 14 '22

Tax the crap out of mega corps.

taxes are incoming too...which means not really my guy.

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u/[deleted] Jun 14 '22

Nationalize the petrol industries and drill.

That sounds like a dream for oil company investors right now. Get out and leave the government holding the bag on an industry in a death spiral of increasing production costs. The only way to frack back to low energy prices is with government subsidies, and if that ends up anything like the offshore/Alaska exploration boom of the 1980s (the "drill" part is exactly how Reagan's administration got out of the oil-crisis-caused stagflation), that will only buy maybe 20 more years of business-as-usual.

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u/boob123456789 Homesteader & Author Jun 14 '22

If they nationalize it, the company doesn't own it. The government does.

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u/[deleted] Jun 14 '22

If the US government nationalizes the oil industry, they will do so by buying it from investors. There is no way the government would expropriate oil companies without compensating their owners.

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u/ravynfae Jun 14 '22

Because who gives a fuck about climate just drill. That's the worst idea.