They have wanted a recession so they can shitcan half the country to make workers “respect” the system again, and it has been so blatantly transparent ever since COVID started.
They know people got a taste of a world where things could be different, and they fucking hate it. They want to grind us under their boots and make us grovel like they did 2008-2010.
That’s why you see articles like this every few months since 2020.
EDIT: Also, chunks of the stock market have been ridiculously overvalued (cough Tesla cough) and have been for a long ass time. The stock market has been a proverbial casino disconnected from reality for a while. The idea that a market correction isn’t coming eventually is foolish, of course this house of cards will collapse at some point. However, it seems like they’ve perfected kicking the proverbial can at the moment.
Bingo. Workers united! Everything else is a distraction.
Yup. The stock market really is a glorified casino. When they say “the market is not the economy”, it’s true. Stocks can be evaluated on all kinds of numbers like P/E ratios, etc, but it’s ultimately worth whatever traders are willing to gamble on it.
And savvy corporations and investors both can prepare and adjust for economic downturns. The economy and the market are very loosely coupled.
Corrections and recessions are often relatively short-lived, too. The general long-term trend is ever upwards. Eventually the whole system will collapse, of course, but that could be decades away.
The people who hold the stocks don’t want the stock market to go down. They want it to go up, because it means more money for them (with some exceptions. Some groups feast on volatility, but that is a smaller part of the market). As shown by the recent tech layoffs, you don’t need a recession to lay people off. In fact, it doesn’t matter when you do it, you are usually rewarded with a rising stock price. Just look at GOOG and the fact that the price of the stock has risen since they announced massive layoffs a week ago.
On top of that, 2008 was when I really started to pay attention to markets, and the one thing I’ve learned is that there is constantly someone pointing to some metric that says a huge plunge is right around the corner. This is not something that started in 2020. It’s a near constant thing. I remember how hard it was pushed on zerohedge that a full economic collapse in the US was imminent.
What you say sounds good, but I don’t think it accurately reflects the reality I’ve seen.
https://www.cnn.com/2022/08/26/economy/federal-reserve-jerome-powell-jackson-hole-2022/index.html
The Federal Reserve hasn’t exactly been shy about what their intended goal was with raising interest rates.
They were trying to trigger job losses so people would have less money to spend, thus “cooling inflation.” That has been their stated goal all along.
This has literally been years of the Fed essentially trying to trigger a recession.
“While higher interest rates, slower growth, and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses,” said Powell.
“I would interpret that as a willingness to see the unemployment rate creep a little higher here to get to that end of reducing demand,” said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. A weaker labor market generally constricts consumer demand as households conserve cash in anticipation of potential job loss.
Yeah, with the goal of avoiding something worse. Or do you think that letting the economy collapse isn’t going to lead to more job loss and more suffer? Or do you think that just letting inflation run rampant isn’t going to increase suffering across the board?
Keep living in the fantasy land where Powell gives a shit what happens to you.
You said they were open with their intent, and then proceeded to cherry-pick only what you wanted. When I point out the full context their intent, you accuse me of living in a fantasy world. This is some bizarro shit world where you’re trying to have your cake and eat it too. lol
Also, I understand that he doesn’t give a shit about me. What he does give a shit about, a stable economy as that decreases social unrest and lines his pocket, benefits me as well. Life before the federal reserve got teeth was a nightmare for the regular joe.
You know what stock market means to regular people?
- Where we can get a job
- How much that job pays
- What it costs to live
Is the decline in taxes collected from individuals or corporations? Which has declined the most the last few years?
Well as a 32-year news vet I will only start being worried when business publications stop calling for recession and start cheer-leading again.
Paywall. :(
https://ghostarchive.org/archive/LZU8R?wr=true
EDIT: A useful plugin for bypassing paywalls by default as well.
https://gitlab.com/magnolia1234/bypass-paywalls-firefox-clean
