I had not thought about this until I saw the tweet.
Did Covid put us into a global recession or even a national (US) recession?
One can argue that all the stimulus money prevented a recession, that's fine. But, then look at this. Does anyone really think gasoline demand / oil demand will drop back to Covid-19 levels when / if we enter a recession.
I'm not exactly sure why the graph only goes out to 2017. There are a number of other issues, also, which are noted in the comments at the link.
IMHO I would think COVID (i.e. stimulus it wrought) put us into the recession via supply/demand via inflation via hiking rates to cool the aforementioned. Rubber band effect maybe for some time...?
ReplyDeleteCan't disagree. We're going to be paying for the political decisions made in 2020 for a very, very long time. Some folks may not live long enough to recover their losses.
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