cross-posted from: https://lemmygrad.ml/post/1103408
Kept seeing this clip of Barry Sternlicht laughing about a “nice little recession” so I thought I’d share.
For what it’s worth, this isn’t the first time I’ve heard someone hoping for a recession. My stepdad told me this and I don’t understand why he’d want that.
According to him the only way to combat inflation is for us to go into a recession. But wouldn’t that cause a different form of chaos?
I’m uneducated on inflation vs recession but I know for a fact through lived experience that inflation sucks, and I’ve heard recession is also shit so why ask for one?
Anyway if this doesn’t belong here please let me know so I can post it somewhere else, I’m still getting used to what posts belong in what communities.
Not an economist, but I think I have an idea. Let’s call it recession 2.0. Sounds amazing and will tickle the mind of even the most conservative friedmanian economist.
Then in the fine print we put some price control mechanisms and a few limitations regarding the creation of profit.
Then in the fine print of that, we put some general market planning activities (that mainly regard the wealth accumulation of billionaires).
Then in the fine print of that, we casually mention that said wealth is to be rerouted towards infrastructure spendings of all kinds.
Booom, Barry gets his recession, inflation averted, prices go down, no one loses their job (or if… likely gets one outside of an office, how amazing is that!), everybody happy 😊👌