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.
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.
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.