In May 2020 I posted an article in the Higher Education Inquirer on the last economic downturn. It was the 27th downturn in US history. Remarkably, few could see that downturn coming, a result of the covid pandemic. More than a million people died, just in the US. Trillions of dollars were handed out, mostly to the rich. Unique, in some respects, but familiar in other ways. During and after the Great Recession, from 2008 onward, the US government handed out trillions to big banks and big corporations.
TARP, QE1, QE2, QE3, a FED rate of nearly 0 percent. Trump added trillions more through tax cuts and deregulation. The rich got richer. The poor got poorer. A familiar pattern over the last half century. And workers resist, at Starbucks, Amazon warehouses, and a number of universities, including the UC System and New School. Inflation requires the FED to intervene, to put things back in line. Roubini warns us again about zombie corporations. Layoffs are happening, not just in Silicon Valley.
Some say the next downturn is just around the corner. But it's been here, for the working classes anyway.
7 replies (most recent on top)
@OP I imagine that they won’t be accepting the next article.
Get the help that you need, and play it up to get PTO if not PTSD…
But you clearly don’t need that advice as you’re playing the game perfectly… for this life anyway…
@lkf That’s easy, Cloward-Piven Strategy implemented by Saul Alinsky from Chicago and co-opted in school textbooks since the 1960s. Let me give you a clue… it’s far worse than Fentanyl.
It’s just a little old Chicago Cloward-Piven strategy implemented by Saul Alinsky, Bernadette Dorn, the Mayors Daley and son, Bill Ayers (who Charlie always hires first), Barack Obama and your local Teachers Union.
That’s a lot to read up on but it’s essential if you care to know what’s going on and especially if you have kids in school.
So, you’re returning to let us know that you’ve learned nothing since May of 2020? I don’t get it, but good luck.
Wth is this article doing here?
That’s really quite the bizarre perception of reality. Likely clinical C.D.D. I’d get it checked out if I were you.