alt Hacker News> 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.
Replies
VinLucero • today at 4:53 AM
Have you ever read Yonatan’s article on Shock Wealth and how the ruling class is incentivized to cause shocks?
https://medium.com/newco/your-financial-shock-wealth-4845e6d...
Recession are a natural part of the business cycle though. Like it's good to have them, Democrats not allowing a recession to occur just makes the next bubble even bigger. And all kinds of inefficient businesses are allow to zombify when the resources could be used elsewhere.
Now, the bigger problem is that you're supposed to raise taxes during the boom so that you can run deficits during the recession to recover quickly. Unfortunately we run deficits during the boom so that the crash is even bigger as well ...