I'm a pleb like most of you, and I too have, many times, become pesimistic about the economy in general and in what's about to come. But has anyone ever considered that,
- The economy is not going to crash into a recession
- That there will be an actual soft landing
- That the Russia - Ukraine war will not escalate into a European war
- That Gensler CAN'T truly ban crypto
- Institutional investors will come back and take Bitcoin to six digits
I'm probably missing more narratives, but you get the idea.
The prevailing state of economy is understandable and concerning for all of us, however world has learned bitter lessons from past recessions, therefore FED and central banks all over the world are doing all they can to avert risk of recession.
The US economy must be reset and recession is the solution? That is outrageous, I don't see a need for a good US economy to be reset, and the recession is more possible before than now. In fact, I was shocked by what you wrote, and it's as if you are not economically inclined to have said all that. The issue last year was alarming, but not anymore, and if the US didn't enter a recession then, why would they enter now, and reset what?
Inflation was the challenge, and the inflation the US battled was global, so it's never peculiar to them, and with the situation of things, it shows they are perfectly handling it as they humanly could. Except you can compare the inflation of August last year which sat at 8.2% to this year's August which was released at 3.7%. Or the Retail sales that are now doing better, or the GDP that gained 2.4% in Q2 and that economists are forecasting a further gain of about 3.5% in the third quarter? These guys handling the US's economic affairs are just great.
I simply don't see where the recession of a thing or the economic instability of the USD is coming from. Fine, they are not yet entirely out of the wood but the days of desperation and panic are certainly not now.