The CEO of Bank of America, Brian Moynihan, said that the financial giant no longer believes a recession is on the horizon for the American economy, hinting that the Biden administration and Federal Reserve have achieved a ‘soft landing’ after inflation troubles in recent years,” The Hill reports.
I kind of think we’ve essentially been in a recession since 2008 and they’ve just kept kicking the can down the road to keep the bare essentials running, albeit at an increasingly worse rate.
But it has to all blow up eventually, because on our current trajectory it seems like the end state is to have everything owned by like 3 guys while everyone else presumably digs turnips out of the mud like a medieval peasant until the air catches fire. Which doesn’t seem very sustainable.