In early August, I made the following observation. Reading the replies, I noticed that a handful of people thought I was claiming that a cabal of global elites was engaged in some backroom conspiracy to join in a collective effort to crush the proletariat. I wasn’t. What I was actually saying was that policymakers were (nearly) all leaning hard in the same direction at the same moment in time—tightening both fiscal and monetary policy—and that the predictable outcome would be a synchronized contraction.
Deliberate. Coordinated. Global Recession.
Deliberate. Coordinated. Global Recession.
Deliberate. Coordinated. Global Recession.
In early August, I made the following observation. Reading the replies, I noticed that a handful of people thought I was claiming that a cabal of global elites was engaged in some backroom conspiracy to join in a collective effort to crush the proletariat. I wasn’t. What I was actually saying was that policymakers were (nearly) all leaning hard in the same direction at the same moment in time—tightening both fiscal and monetary policy—and that the predictable outcome would be a synchronized contraction.