10 of the last 11 recessions happened under Republican presidents. Recessions are more effective at widening wealth inequality than even the most aggressive tax plan changes. The longer the recession, the higher the damage goes into the middle class, as privately owned businesses begin to fold and get scooped up by corporations.
this post was submitted on 15 Mar 2025
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The silver lining is that it'll fuck up russias economy even worse
Russia’s stock market has been in a boom since Trump began his tariff tantrums.
Wow yeah that'll save them lol.
No, their economy is in dire straits all right.
Oh for sure. This is just a representation of how Russian oligarchs are doing, not the working class.
Why
Because russia is not prepared at all for a recession. They have high inflation and stagnation at the moment (because of burning cash for the war, among other things), this is called "stagflation" and is just by itself a hopeless mess; if you up the steering rate to stop the stagnation and you kill the economy (the rate is already at a ridiculous 21%), lower the rate to favor economic growth and the inflation (which is according to the kremlin somewhere at 10%, but at over 70% for food according independent alalysists) will spiral out of control.
It's already an impossible problem to solve, add a global recession and it just gets way worse.
It's a problem you encounter because money is just an abstraction for real world conditions and resources. I think people forget that. Printing more money doesn't make your country magically have more resources. It doesn't manufacture tanks for you or vanquish your enemies.
I still remember the picture from the history book where in Germany between ww1 and ww2 they were burning bank notes for warmth because inflation made the currency almost completely worthless.
Yes, they are definitely trying to have the cake and eating it at the same time.
No, I mean why would US economics affect Russia, a country that's famously not tied to our financial system?
The russian economy is not only tied to but dependent on the wests import of natural resources.
How in the world did you figure russias economy is not tied to "our" (I'm european, but the us and eu economies are all intertwined) economy? "Famously" so too?
If USA says don't buy russian oil or you'll get secondary sanctions (e.g. you can't trade with the US) then india, china will (and are) stop buying russian oil. This is what is actually happening by the way.
I didn't mean we can't impact their economy. I meant the US economic success is not tied to theirs. If our economy collapses, theirs will actually improve, not get worse.
The person I was replying to implied that our coming recession would also be bad for Russia. I think it's the opposite.
Anyone with more than two functioning brain cells between their ears knows that whatever Trump is doing is harming the American economy.
Trump just needs an executive order saying stock prices can’t go down. Problem solved. But since the rich get richer in downturns, I’m sure he will be told not to.
I've been seeing articles about a recession hitting for the last 5 years. They will predict a recession till they are correct.
Yeah but they've got actual reasons for it to occur right now. It may be theoretically possible that long-term Trump's tariffs will cause US companies to return manufacturing to the US and cause manufacturing (and the greater economy) to eventually rise in activity. But even if it worked long-term (which it won't for any reasonable definition of "working") it would cause short-term pain.
But the unemployment rate is low, the US really doesn't have the tooling, manpower, nor the raw resources to regress to the industrial and economic models of centuries ago. If -- for instance -- we're in 2025 trying in earnest to become the best textile-manufacturing country, a recession won't even begin to cover what's happening at the macroeconomic level. It'll be more a depression, collapse, or a crisis we're not even measuring anymore...a US-specific, self-inflicted little dark age.
Realizing things like this in actuality would essentially require a successful Pol Pot maneuver, which is impossible.