News from within the empire - From a leftist perspective
But one of the biggest differences between now and then is that the current sell-off now is entirely due to the trade war started intentionally by the Trump White House.
Is this true? I feel like attributing it only to Trump is a cop out for an increasingly unstable economy
I think so as well, the trade war acted as a catalyst but there were already underlying economic problems present before that.
The last financial crisis was nearly 20 years ago, so another one is due soon. I still think it's a bit early, and Trump will probably offset it with by lowering interest rates and (probably) printing even more money. Maybe in 2028-2030 is when we get another big crash.
It's hard to predict how far down the road they can kick this can. The erratic policy that Trump pursues could easily trigger a crash any time.
I'm not sure they're erratic. He seems to just want to make himself even richer, with market manipulation, then leave the mess for someone else to handle. Probably an incompetent Democratic President.
These things aren't mutually exclusive. He runs an erratic policy, but him and his cronies also benefit from the chaos they create.
We never recovered from 2008 either. The rich just got to win for 17 years, doctor the numbers and tell people the economy is doing great.
No, but we've gone almost 20 years without major banks going nearly bankrupt simultaneously. Also, unemployment is low across the West, housing prices keep climbing, and public and private debt are through the roof. It's starting to feel like 2008 again, but this time it will be even worse.