‘A higher likelihood of a crisis’ | Financial Times
www.ft.com
Gandalf stands by his forecasts
      • NovaPrime@lemmy.ml
        3·
        1 year ago

        Yes, but I’m off enough now to know that capitalist scum always stirs up fears of recession and crashes when labor starts to make even the smallest gains. It’s not enough for them to win, they must ensure everyone else loses hard. Of course if they keep hyping up a crash one of them will eventuality be right. Meanwhile everyone else will constrict spending and freak out in response to constant doom predictions, making the whole thing somewhat of a self-fulfilling prophecy

        • ☆ Yσɠƚԋσʂ ☆@lemmy.mlOPM
          58·
          1 year ago

          The crash isn’t coming because people are willing it into existence by talking about it. The underlying mechanics are pretty simple, people and companies aren’t making enough money to meet their operating needs. This results in them having to borrow money from lenders on order to keep going. Meanwhile, lenders are cooling on lending because they don’t they’re going to see a return on the investment. That’s what’s driving the crash. This is a great look at the actual numbers https://lenapetrova.substack.com/p/these-three-red-flags-may-cause-a

          • NovaPrime@lemmy.ml
            4·
            1 year ago

            I agree and understand the underlying mechanics of capital being more expensive and business/individuals being overstretched. But those are symptoms of a much deeper core issue which is the fact that we have mega-corps and banks who have effective monopolies on labor and have more or less made it impossible for smaller competitors to exist, let alone compete. The mega banks and corps can weather the storm they’ve created and will use it to further gobble up capital and consolidate. The reason we see the cycle is because we have yet to do anything to address the rigged capitalistic system that continues to self-feed, and create the conditions which lead to these cyclical crashes.

            • ☆ Yσɠƚԋσʂ ☆@lemmy.mlOPM
              58·
              1 year ago

              Sure, capitalism is absolutely the underlying problem. Unfortunately, as you point out, most people still accept capitalism as a natural state of things and thus the horrors continue.