The 'recession or not' argument is a distraction: Our economy is worse than almost all major countries-
[pjmedia.com]
6
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4 comments
Feel free to reply to any comment by clicking the "Reply" button.Biden will do the impossible: his administration will preside over poorer economic performance than Obama, who had the record for the worst economic performance in US history.
TimTuolomne
Level 9
Aug 1, 2022
0
economics/israels-war-cash-about-get-more-drastic
There is a bank deposit freeze in China. We will see a worldwide withdrawal of money from banks. The government can only stop this by freezing accounts, which accelerates the desire to withdraw. A banking collapse is inevitable.
jaymaron
Level 8
Aug 1, 2022
1
krugman-determination-of-people-to-say-its-a-recession-above-and-beyond-anything-ive-ever-seen/
jaymaron
Level 8
Aug 1, 2022
2
The USD is inexplicably strong globally but weak back home.
eschatologyguy
Level 9
Aug 1, 2022
2
If there were ANY currency of reasonable strength in the World right now, it would be demanded as the new World currency. However both China and India have bungled their timing and blown their opportunities.
@TimTuolomne Any "world" currency would have to be the one used for the purchase of fuel oil and gas. The USD's unique "Petro Dollar" status allows it to gain strength from the global demand for the currency.
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