Canada looks set to dodge a recession despite the ongoing downward pressure from higher interest rates, Deloitte Canada said in its economic outlook report.
We haven’t had a real recession–one where the rich have had to make to with less–in a long time, and the rich are absolutely terrified at the idea of making less money this year than last.
Not losing money, just making less profit for a bit. We’ve had one long cheap-money-fueled boom since around 2001 and didn’t make meaningful corrections after 2008. Almost every billionaire alive is where they are because of this quarter-century-long sluuuuurp at the trough, and they don’t really have the mental equipment to deal with not making more money.
You are not logged in. However you can subscribe from another Fediverse account, for example Lemmy or Mastodon. To do this, paste the following into the search field of your instance: !canada@lemmy.ca
Pretty easy to avoid a recession when you deny ever being in one in the first place.
We haven’t had a real recession–one where the rich have had to make to with less–in a long time, and the rich are absolutely terrified at the idea of making less money this year than last.
Not losing money, just making less profit for a bit. We’ve had one long cheap-money-fueled boom since around 2001 and didn’t make meaningful corrections after 2008. Almost every billionaire alive is where they are because of this quarter-century-long sluuuuurp at the trough, and they don’t really have the mental equipment to deal with not making more money.