The economy’s strength and stability — defying many of the most optimistic predictions — represents a remarkable development after seemingly endless crises
As 2023 winds to a close, Powell and his colleagues are far from declaring victory on inflation. They routinely caution that their actions could be thwarted by any number of threats, from war in the Middle East to China’s economic slowdown. Americans are upset about high costs for rent, groceries and other basics, which aren’t going back to pre-pandemic levels. The White House, too, is quick to emphasize that much work remains.
Yet the economy is ending the year in a remarkably better position than almost anyone on Wall Street or in mainstream economics predicted, having bested just about all expectations time and again. Inflation has dropped to 3.1 percent, from a peak of 9.1. The unemployment rate is at a hot 3.7 percent, and the economy grew at a healthy clip in the most recent quarter. The Fed is probably finished hiking interest rates and is eyeing cuts next year. Financial markets are at or near all-time highs, and the S&P 500 could hit a new record this week, too.
What you’re doing is the same as saying universal healthcare and communism is the same thing…
All capitalism isn’t “free market”. The government (at least supposed to) regulate capitalism. There was a time in America when it would even break up giant corporations who had monopolies. Lots of Americans alive today were even alive when it happened.
Things changed in the 1990s when James Carville convinced people Bill Clinton caused the Dotcom boom with neoliberal economics.
Suddenly both parties were bending over backwards to funnel money to the wealthy at the expense of what’s left of the middle class.
You’re demonstrating exactly why capitalism doesn’t work. Once corporations capture politicians and grow fat, it is incredibly difficult to get them out. This isn’t an aberration. It’s inevitable in thew long run.
If Keynesians could implement their policies and hold them indefinitely, capitalism might work. They can’t.
Unionize all the things.
They shouldn’t be able to capture politicians the way they have, that’s a failure of the supreme court, which was also captured.
Again, probably inevitable as you say, but that was in theory the last chance to stop it.
Unions imply capitalism, so… Sure I guess?
Like the history is wrong, and the reasoning is hellaciously wrong, but unions are indeed good.
If Russia and China are what real world Communism always turns out to be, North America and Europe are what Capitalism always turn out to be