JPMorgan CEO: A recession is coming

[John Connor]

Lil Donny takes all the credit while gloating nonstop when market/economy is doing well, but when it isn't doing well he blames someone else.

Trumpeters also won't ever admit that they were artificially propping up the market/economy through the tax-cuts/stock buybacks/low interest rates. Interest rates have been pretty low since Obama days but huge tax-cuts/stock buybacks was under Trump.

When an artificial market goes crashing, it goes down spectacularly..

The market was not allowed to correct in 2008. Obama did what he could to stop it from falling apart... but it could never be stopped. He delayed it... he kicked the can down the road. And that's the point that was missed in 2008. People think we fixed it and that we all recovered and everything was fine... we didn't. This was always coming down the pipe. The federal reserve was never able to get to a point to raise interest rates back to a healthy level. That was the primary indicator/marker that nothing ever got fixed.

We didn't swallow our medicine in 2008 and let the market correct. We tried to intervene because we didn't want to deal with the problems. And no doubt, we did lessen how painful 2008 was... for a short time. We made things feel and seem better. But we didn't fix it. As I said, this was always coming. We should have dealt with in 2008 and let the market correct. Say it with me.

Anyways... Obama blew the bubble way up. Trump blew it up even further. They're both at fault and if you can't admit that it's because you're naive/blindly partisan. And too much power is put on these guys' names. It's the federal reserve and the entirety of the Untied States government. It's not as simple as 'but hurr durr Clinton/Bush/Obama/Trump.' It's demonstrably more complex and nuanced than that.

[bladefd]

The market was not allowed to correct in 2008. Obama did what he could to stop it from falling apart... but it could never be stopped. He delayed it... he kicked the can down the road. And that's the point that was missed in 2008. People think we fixed it and that we all recovered and everything was fine... we didn't. This was always coming down the pipe. The federal reserve was never able to get to a point to raise interest rates back to a healthy level. That was the primary indicator/marker that nothing ever got fixed.

We didn't swallow our medicine in 2008 and let the market correct. We tried to intervene because we didn't want to deal with the problems. And no doubt, we did lessen how painful 2008 was... for a short time. We made things feel and seem better. But we didn't fix it. As I said, this was always coming. We should have dealt with in 2008 and let the market correct. Say it with me.

Anyways... Obama blew the bubble way up. Trump blew it up even further. They're both at fault and if you can't admit that it's because you're naive/blindly partisan. And too much power is put on these guys' names. It's the federal reserve and the entirety of the Untied States government. It's not as simple as 'but hurr durr Clinton/Bush/Obama/Trump.' It's demonstrably more complex and nuanced than that.

It all starts back to the 90s when people were doing whatever they wanted & taking investment risks in a growing economy, but the difference was we didn't have this big debt in the 90s so we could have absorbed an economic crash then if it happened. Then 9/11 happened, turning everything upside down.

This time around, we are carrying a baggage on our backs of a massive debt. Those 2 wars, massive spending in places like Middle East and 2008 crash has us cornered. I don't even have any hope in Trump in leading us out of this. He will just call for more bailouts and negative interest rates (dunno how that even works). Next president Biden might be unsure what to do..

We will have to take steps like FDR took to get us out of the great depression.. Somebody will have to see how they got us out and try to learn from that. I don't trust anyone to do what needs to be done..