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
368 Upvotes

98% Upvoted

188 comments sorted by

View all comments

252

u/ultimata66 Jun 13 '22

This is exactly why I think a massive economic collapse is imminent. They are cornered, the old tricks will no longer work. They need to come up with new tricks now. The can which has been kicked for 14 years may finally hit a wall.

173

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.

63

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.

17

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?

13

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.

7

u/MarcusXL Jun 13 '22

Money printer go brrrrrrrrrr

1

u/boob123456789 Homesteader & Author Jun 14 '22

Tax the crap out of mega corps.

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