A Recession Is Coming. Who Will Take The Blame?
All booms end in recession. So who will accept the blame for the next one?
Of course, nobody will volunteer to take any portion of the blame.
Yet fingers will most assuredly be pointing.
- Trump will blame the Fed for hiking too fast.
- The Fed will blame Trump for starting a trade war.
Scarcely anyone will blame fractional reserve lending, lack of a gold standard, Congressional stupidity, or central bank cheap money and their bubble blowing tactics.
It is a given that mainstream media will not remotely come close to pointing a finger in the proper direction.
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It would be better if we start preparing to face the coming recession rather than blaming someone. The phase of recession is difficult for new and growing industries.
Good read - very funny.