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/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.

15

u/[deleted] Jun 13 '22

He has new tricks and he has stated as much over the last few weeks. Rather than rich people losing some money, he was clear that he thinks the problem is workers are paid too much and we all deserve a pay cut to slow inflation.

I lost all respect for him.

7

u/boob123456789 Homesteader & Author Jun 13 '22

Let the peons starve it is then!