• Top economist; "There's a decent chance we will hit a global recession in 2019"
    45 replies, posted
https://www.cnbc.com/2019/02/11/paul-krugman-warns-of-a-possible-global-recession-this-year-or-in-2020.html Krugman said it was unlikely to be just "one big thing" that would prompt an economic downturn. Instead, a range of economic headwinds would increase the likelihood of a slowdown. He highlighted President Donald Trump's tax cut stimulus as one area of concern, saying the program was "not very effective." Krugman also warned it was "starting to look like the bubble may be deflating" when it comes to tech growth. Citing a broad lack of preparedness among economic policymakers, Krugman said: "The main concern has always been that we don't have an effective response if stuff slows down." "The place that looks really close to recession right now is the euro area," he added.
https://i.imgflip.com/13z0v3.jpg
Here comes Great Depression 2
So, how will Trump try and wriggle his way out of this when the economy is the one thing he always pushes as doing well?
"The Democrats forced 2 shutdowns!!!"
No shit, nobody can decently afford any rent here anymore while the ECB blew cash into every fucking banks ass for years now, people are holding off longterm investments, the mainly driving factor right now is construction, european car companies are shitting the bed because they simply refused to invest into the future for the last 10 years, ecologic and climate damage is costing us billions already, be it at home or in our colonialistic supply chain(hey France why do you only pay 1/rd of the global price for uranium?), meanwhile number billionaires doubled since 2008. Eat the rich
How did this happen?
Because the Multi-Millionaires were the ones profiting from the last recession.
Deregulation and abuse of technology.
mainly through the maturation of several markets like the tech sector, the pumping up of stocks thanks to the Fed's QE, several rounds of tax cuts, and an overall system that preferences wealth concentration.
The market in it's current form is without error, a giant pump and dump scheme
You sort of wonder if all that the financial sector is doing is waiting for this so they can further fuck the public, now with even less buying power.
If this keeps up then nobody will be able to buy their products to give them money in the first place, so the rich get eaten regardless
Wow. I might actually need to write a book on 100 recipes for rat and pigeon meat.
If I have a lot of money in a hedge fund, would I lose more from keeping it in, or dollar devaluation if I take it out?
You really use every part of the bird, eh?.
Hey man, we are tail to head users in this house!
Paul Krugman has been predicting a recession since the first day Trump won. Here's his op-ed the day after the election: "It really does now look like President Donald J. Trump, and markets are plunging. When might we expect them to recover? Frankly, I find it hard to care much, even though this is my specialty. The disaster for America and the world has so many aspects that the economic ramifications are way down my list of things to fear. Still, I guess people want an answer: If the question is when markets will recover, a first-pass answer is never." https://www.nytimes.com/interactive/projects/cp/opinion/election-night-2016/paul-krugman-the-economic-fallout He may be wrong and he may be right, but he doesn't have a great track record to back it up. I'm really not sure why he's a "top economist."
Why was I born into this and why do I have to spend my 20s on it?
better than spending your teens in a recession. At least in your 20s you have some control over your destiny
https://www.youtube.com/watch?v=uhY9Zxv1-oo
You are aware that economists actually do more than make predictions or are you doing that thing again where you act dense on purpose to make a point.
and the reason is gonna be something like "Well after Obama, we needed someone like Trump, and nobody cooperated with him, so everything went to shit!"
HE IS THE MOST DIVISIVE PRESIDENT IN OUR COUNTRY'S HISTORY HOW DARE YOU
honestly it seems like the guys everybody listens to have no idea what they're doing and the people who do are never listened to anyways because they usually don't have the kind of advice people want to hear. like a feedback, people like Mad Money's Jim Cramer because he usually says what they want to hear like praising tax cuts and deregulation but he's got a long track record of basically just guessing and following the market, they don't like people who criticize the groupthink on wallstreet about the way our economic system has been running so they marginalize them and push politicians to stay the course. look at how reviled the simple idea of raising any taxes has gotten even though improving the federal government's revanue would go a long way towards improving the deficit and debt
Broke: becoming poor in the upcoming recession Woke: live at impoverished levels of expenditure to scrounge up every dime to invest big when the stocks bottom out market-wide to hopefully catapult your way into not-poverty.
Economics and Buisness are soft sciences; most of their predictions and work are not based on full system dissemination but rather a careful focus on historical data and, most importantly, bias. Neither branch get lumped into their Psych/Socio/Poli kindred because money is something tangible but the fact of the matter is that most economic surveys/papers/research are just as full of errors, mathmatical witchery and due to some of the grander projects, are nearly impossible to replicate.
For some added context, here's an article from Bloomberg from last November that highlighted banks' current practices that would suggest the same.
reminder that right wingers absolutely loathe krugman because he's very much of the opinion that right wing politics makes no sense economically, nor ethically so it is ENTIRELY predictable that sgman doesn't think a nobel laureate in economics is somehow a "top economist"
Right, and I'm sure you have the same respect for Milton Friedman's work, someone who also held a novel prize in economics, but strongly disagreed with much of what Krugman argues for. Getting a novel prize for a very specific economic theory does not make you an authority on everything economics, especially when you've already demonstrated that your economic opinions come more from political bias than solid economic theory. How many times does he need to incorrectly predict recession before he stops getting cited on future predictions?
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