How bad will this recession be? Worse than 2008?

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I don’t understand why people think this recession would be worse than 2008 when 2008 was an actual financial crisis.

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No but will be notable

Yes, it’s going to be ugly.
The Fed has already used its bullets and the Dems can’t go wildly spending stimulus money when inflation is out of hand.

Makes the recession more likely.
Volker had to raise rates to 20% to kill the same level of inflation. Powell and the rest of the establishment don’t have the stomach for that, but we’ll get up 5 or 6% quicker than they’d like in order to try to tame this.

I think maybe they should lower the income tax rate on payrolls effective immediately...our taxes are blown on golf trips and private jets anyways

History has shown us what income tax cuts do. How do you think Bush ended the 2001 recession? In this case, inflation has been driven by a slew of things; these drivers are a special scenario not seen before, so raising interest rates alone isn't going to have a big enough impact to actually normalize things. And then we should be thinking about what the new normal really is. Why do analysts continue to use the 2% standard? Perhaps the new standard is closer to 4% inflation. So then what do we do? Oh yea! Pay people higher wages so they can cover their costs of living that have risen 20%+ in the course of 6 months. Hence my previous statement about corporate greed. Whether there are income tax cuts or there are wage increases, more money has to be shifted from the government to Americans. People have to be able to live or it creates a domino effect that really wreaks havoc beyond the negative economic impact.

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