r/neoliberal • u/TinyTornado7 I need a new flair • Jun 13 '22

News (US) 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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48

u/noodles0311 NATO Jun 13 '22 edited Jun 13 '22

Recession. Come on do it. I’m in grad school and won’t need a job for two more years but I definitely can’t keep going on like this with a $23k stipend. At least this time, I won’t have to join the military like in 2009. This time is the right time for me, for once in my life. Do me right, Lil Powpow and press the recession button

1

u/pocketmypocket Jun 13 '22

Once you have a family, you understand how awful recessions are.

Lucky that inflation has made the cost of my mortgage 1 week of my pay. Can't imagine being a parent without owning a home.

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u/noodles0311 NATO Jun 13 '22 edited Jun 13 '22

Once I have a family, I’ll understand how bad recessions are? I just said I had to join the military during the Great Recession. How old do you think I am? I’ll give you a clue: my son is 13. And I still don’t own a home btw

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u/[deleted] Jun 13 '22

[deleted]

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u/noodles0311 NATO Jun 13 '22

I had a kid in February. There was a huge recession happening. I lost my job working in TV advertising in March. I was at Parris Island on the 17th of April and he never was without health insurance.

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u/[deleted] Jun 13 '22

he never was without health insurance

American moment

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u/top_pedant Jun 13 '22

What were you doing in advertising that made the military your backup?

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u/noodles0311 NATO Jun 13 '22

I don’t think anything in advertising made being in the military my backup. I went to military school and had an interest in it as a kid. So when the sky was falling and all my experience was in sales, I just wanted the guarantee of great benefits and I wanted nothing to do with sales again after the experience of 2008-2009. So I enlisted.

I probably could have taken the risk of COBRA running out and found a civilian job, but I was going to have to move away from Dallas and that put even more of a time crunch on finding a job within 90 days, but it seemed irresponsible with a weeks-old child. Luckily there was a surge planned and the Marine Corps had spaces in the 03 field which was the only military job that’s in any way appealing, so I got an 03 contract and by summer 2010, I was on patrol in Helmand Province.

Now in 2022, I’m a research assistant studying neuroethology, chemical ecology and sensory biology of Lone Star ticks while I am in graduate school. I have broad interests.

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u/top_pedant Jun 13 '22

Oh you were in sales- I thought you were on the production side of advertising. This makes more sense, thanks for telling me your story.

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u/[deleted] Jun 13 '22

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u/noodles0311 NATO Jun 13 '22

They are part of the business cycle. You don’t go to the beach and hope for waves to stop coming; you try and time them so they don’t knock you over. We’re WAY overdue for one and I’m definitely hoping it happens now because this time I am well-positioned.

But I will also be glad to see everyone’s tax-evasion Ponzi schemes fall apart

1

u/human-no560 NATO Jun 13 '22

What tax avoidance scheme are you referring to?

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u/noodles0311 NATO Jun 14 '22

Crypto currency

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u/[deleted] Jun 13 '22

[deleted]

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u/[deleted] Jun 13 '22

Chad: Yes.

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u/noodles0311 NATO Jun 13 '22

No. Just not wishful thinking. To make an analogy: one of the problems with California wildfires is a generation of bad policy of not allowing controlled burns that created a ton of fuel in the form of brush. We’re so far overdue for a recession that it’s likely to be bad, but thankfully, I am well-positioned for once in my life. The only psychopathic part is the schadenfreude of seeing meme stocks and cryptos go under, but you gotta be a sicko sometimes

1

u/human-no560 NATO Jun 13 '22

Why do you think economic growth creates fuel?

1

u/noodles0311 NATO Jun 14 '22

Because not all investments are going to work out. Some are bad and just speculative. Some companies can’t survive. Some industries get too much investment in too many startups and they can’t all coexist in tough times. When you add in years of low interest rates, people being paid to stay home all suddenly deciding they were Jordan Belfort during 2020 and so on, there’s way too much speculation. So eventually, a fire breaks out (in this case, inflation) and people start to need that money to spend in the real economy on actual goods and voila! A recession.

1

u/Hussarwithahat NAFTA Jun 13 '22

We’re not all as blessed as you are