Everything has been going up as of late due to inflation. Food has gone up, gas prices are going up and down and it doesn't look like it's going to change soon.
Was this inflation due to the stimulus checks we got a while back? And everyone out there collecting pandemic unemployment during that time? I've found it a bit tough with everything going up in price.
With that being said, has this resulted in another recession? I don't know a whole lot on how recessions start, but I'm curious about them and whether or not we're in one currently.
The inflation is a byproduct of previous policies, and economic trends. Inflation didn't happen out of the blue. It's a symptom. I'm shocked we didn't go into a full blown recession or depression during covid19. The only thing I can think of is that the government operates differently now than it did in the past. The U.S. treasury, the Fed, all facets of the government and quasi governments act in concert to keep it afloat. And what they are doing isn't a good thing.
The last 3 generations Gen X, Gen Y and Gen Z for the first time ever in American history will have a lower standard of living than the previous generation. Baby boomers was the last 'great' generation economically. Those boomers (white) old niggas (black) f*cked over the next generation knowingly. They paid for a lifestyle on the next generation's dime.
For example, the U.S. became a net debtor nation, meaning it owed more than it took in during the Reagan years (1980s) and its gotten worse since except for a brief period in the mid to late 90s tech boom. All other times, the country balanced its accounts after going into debt for an emergency (1930s Great Depression, 1940-1945, WW2).
The national debt can't be paid off. Well, let me say, it can but it will take everyone living like a developing country middle class citizen. Decent standard of living, you can eat and have a roof over your head fairly comfortably but nothing extra or extravagant. There is no the U.S. people will go for that.
