Ten years later and America learned nothing from the Great Recession
Not only did we elect an odious plutocrat as president and stack the federal government with kleptocrats but we're facing the same financial meltdown as before.
It's eerie, but I'm really starting to wonder if the modern world has been built to "break" every decade or so.
Point #2 really got my attention. Then I started making a list. It really is every ten years.
https://www.collaborativefund.com/blog/permanent-assumptions/
1968-1969 (MLK & RFK Assassinations, Vietnam War Protests, Racial Protests)
1979-1980 (Iran Hostage Crisis, Recession)
1990-1991 (First Gulf War, Recession)
2000-2001 (Recession, 9/11 Attacks, Start of War on Terror)
2008-2009 (Global Financial Crisis, Recession)
2019-2020 (Covid-19, Recession, Public Protests)
It's possible.
share1968-1969 (MLK & RFK Assassinations, Vietnam War Protests, Racial Protests)
1979-1980 (Iran Hostage Crisis, Recession)
1990-1991 (First Gulf War, Recession)
2000-2001 (Recession, 9/11 Attacks, Start of War on Terror)
2008-2009 (Global Financial Crisis, Recession)
2019-2020 (Covid-19, Recession, Public Protests)
2023 ( Word Debt Crisis - Bank meltdown )
Looks like they're speeding things up.
Seriously though, giving the financial sector so much free money for a decade was such a monumentally terrible idea that it was bound to lead to this mess. If banks had been paying the Fed 3% to 5% to borrow, inflation wouldn't be going through the roof now.
It's what happens when dark money is given free reign in politics and then the politics are shaped to help keep the dark money flowing. Wall Street, Silicon Valley, the Fed have crippled the American government.
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