American Economics Thread
- Thread starter Bernard
- Start date
So when the US officially enters a recession in the next few months, is there anything that could concievably pull it out of one? Or are we looking at the beginnings of a Great depression?
Chances are we see a great depression 2.0, won't be 'the same' but probably quite some similarities.
So if this is the case ( and please correct my assumptions if it's wrong) what the Chinese authorities did in cracking down their tech sector last year was a good move in light of what's happening or is forecasted to happen with the US tech sector. Is my conclusion or reading on this thing far off or it has some merit
China crackdown was for ethical reasons, to stop tech companies abusing the private information of people. The US tech layoffs are completely different.
For example, Amazon Kindle engineers should update their résumés because they are being outcompeted by domestic Chinese products.
But really, it’s about cutting costs to make very wealthy people even more so.