alt Hacker NewsYou don’t know until unemployment and GDP numbers are released. Generally when the fed starts making successive rate cuts, the economy is doing poorly. Since 1953 10 out of 11 recessions happened when republicans held power. So maybe that is also why I think we have a little way to go before things get better. I’m not sure why that is and I don’t want to start a political debate. Things will get better. They always do.
Replies
Things do tend to get better, but the time scale can vary. It's hard to tell whether we're deep into a recession, or we're just starting to walk into a depression. You never really know which it is in the first year.
> Since 1953 10 out of 11 recessions happened when republicans held power
I used to think this was because the party that represents the ruling class didn't know what they were doing.
Now I think these economic collapses and ensuing fire sales are not accidents, they know exactly what they're doing.
Yes if only the US still released those numbers...
And except for Jimmy Carter, every president before the Republican in power during the recession was a Democrat.
>I’m not sure why that is and I don’t want to start a political debate
I'm late to the party and am willing. It's becsuse we cut taxes a lot during GOP terms but no one has the balls to raise taxes back up. Thars pretty much the one bit of respect I have for HW Bush despite it being the nail in the coffin for re-election. But for the most part, GOP appeals to business, and the easiest talking point is to make them pay less taxes (though this line has blurred since Citizen's United).
That's really the gist of it. Politicians (on both sides of the aisle) need to know when to raise taxes in good times and not coast on the benefits. That way tax cuts can happen as relief in harder times. Instead we're headed to hard times and nearing default levels in the US debt. In other words: we're cooked.