‘ Behind the rhetoric, the reality is that recessions are a normal part of American economic life. The U.S. has had one, on average, every 6½ years since 1945.
And in the present case, most professional economists think any downturn now is likely to be relatively mild, with a fairly quick recovery.’
Why do they occur periodically? Government intervention in the economy perhaps?
Are these the same ‘professional economists’ who said there would be no inflation, and then when there was said it would be small and short-lived?
In the present case… speaking of ‘normal’ - recessions ‘normally’ are caused by a drop in demand in an over-supplied economy with high employment, forcing a contraction in supply, reduced economic output and shedding of jobs.
A recession after a near two year forced shut down of the economy, $4 trillion money from thin air dumped into the economy, increasing demand in an under-supplied economy and a large cohort of the labour force gone AWOL, seems to me to be unique, not ‘normal’.
Part 1: https://simulationcommander.substack.com/p/weve-moved-to-ok-its-happening-but
Part 2: https://simulationcommander.substack.com/p/ok-its-happening-but-thats-a-good
‘ Behind the rhetoric, the reality is that recessions are a normal part of American economic life. The U.S. has had one, on average, every 6½ years since 1945.
And in the present case, most professional economists think any downturn now is likely to be relatively mild, with a fairly quick recovery.’
Why do they occur periodically? Government intervention in the economy perhaps?
Are these the same ‘professional economists’ who said there would be no inflation, and then when there was said it would be small and short-lived?
In the present case… speaking of ‘normal’ - recessions ‘normally’ are caused by a drop in demand in an over-supplied economy with high employment, forcing a contraction in supply, reduced economic output and shedding of jobs.
A recession after a near two year forced shut down of the economy, $4 trillion money from thin air dumped into the economy, increasing demand in an under-supplied economy and a large cohort of the labour force gone AWOL, seems to me to be unique, not ‘normal’.