2 thoughts on “‘We are on the verge of a great depression’”
I think there may be multiple layers to this kind of reporting. Yes, the economy is in sad shape. At the same time, it is in the interests of Wall Street (as represented by CNBC, MarketWatch, and other outlets) to make noises about how dire things are, in order to provoke the Fed into authorizing a third round of quantitative easing.
(Even though, in my opinion, the money that is released via QE mainly goes toward speculation that simply inflates stock prices without creating much real economic activity.)
I think there may be multiple layers to this kind of reporting. Yes, the economy is in sad shape. At the same time, it is in the interests of Wall Street (as represented by CNBC, MarketWatch, and other outlets) to make noises about how dire things are, in order to provoke the Fed into authorizing a third round of quantitative easing.
(Even though, in my opinion, the money that is released via QE mainly goes toward speculation that simply inflates stock prices without creating much real economic activity.)
not shocked, but that’s fucking terrifying.