this post was submitted on 09 Sep 2023

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the_dunk_tank

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submitted 1 year ago by [email protected] to c/[email protected]

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https://nitter.net/AwayBerk/status/1700159667563847839

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[–] [email protected] 51 points 1 year ago

Recessions, financial crashes and the like have been happening ever since Capitalism has been formed, as late as 1637 and since the industrial revolution to the expansion of the system worldwide, they have consistently happened on average once a decade.

Even just taking the post-war US

1948-1949

1953-1954

1957-1958

1960-1961

1969-1970

1973-1975

1980; 1981-1982

1990-1991

2001

2007-2009

2020

Both in times of Keynesian spending-driven capitalism and monetarist wage-braking capitalism. Not to mention how recessions were avoided in times of growth, such as the pre-Lehman Brothers speculatory bubble in real estate or the Biden administration throwing Europe to the wolves currently.

[–] [email protected] 46 points 1 year ago* (last edited 1 year ago)

I'm not sure how they're going to eliminate the boom bust cycle when it's an inherent part of a capitalist economy. Turns out business owners don't like giving up their ability to squeeze the life from their employees and pay them the smallest amount possible when the only goal is profit and growth.

[–] [email protected] 40 points 1 year ago

[–] [email protected] 36 points 1 year ago

Trust me bro I just have to adjust the interest rates just right I’ll figure it out TRUST ME BRO

[–] [email protected] 34 points 1 year ago (1 children)

200 years of evidence and they still say the same shit.

Even if you could cure "demand-side recessions" this shit would still occur because capitalism has absolutely no central authority with which to mount a response whenever an unexpected crisis hits. Disasters happen. Big events that shake up the system happen. You can't cure these and you can't resolve capitalism's inability to respond adequately to them.

[–] [email protected] 30 points 1 year ago (3 children)

daily reminder that china hasn't had a recession in 45 years

[–] [email protected] 15 points 1 year ago (1 children)

They did when Covid hit, but to be fair a global pandemic is a good enough reason for a recession to happen unlike a preinstalled boom-bust cycle.

[–] [email protected] 16 points 1 year ago

And even when they do suffer economic crises, they usually attempt to take action to stay afloat. The US just sends a zooted Kamala to spread good vibes

[–] [email protected] 13 points 1 year ago

And the USSR didn't even notice the great depression

[–] [email protected] 29 points 1 year ago

its been over two centuries and they still haven't figured it out.

[–] [email protected] 28 points 1 year ago

This literally sounds like Hexbear user sarcasm lmfao, they cant even pretend to be on top of things anymore

[–] [email protected] 27 points 1 year ago

eventually

After centuries of massacring communists, socialists, trade unionists, child workers, foreign workers, anarchists, and even liberals who just want a dollar raise, they still couldn’t figure out how stop recurring crises?

[–] [email protected] 26 points 1 year ago

Kevin spilled his Chili on accident. The bourgeoisie do it on purpose. This is insulting to Kevin. soviet-huff

[–] [email protected] 18 points 1 year ago

Surely....

[–] [email protected] 10 points 1 year ago* (last edited 3 months ago)

It will stop

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[–] [email protected] 6 points 1 year ago

He almost gets it. If capitalism didn't cause the problems it causes, we wouldn't complain about it. But also, if it didn't cause those problems, it wouldn't be capitalism.

[–] [email protected] 6 points 1 year ago* (last edited 1 year ago)

I always imagine/hope that after enough wrong predictions, the right will somehow realise that they're wrong and grow up. And I'm always disappointed.

[–] [email protected] 5 points 1 year ago (1 children)

demand-side recessions

what does that even mean

[–] [email protected] 9 points 1 year ago

Workers are causing all the recessions by selfishly not spending enough of our ever-diminishing incomes on consumer goods.