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#economicdepression — Public Fediverse posts

Live and recent posts from across the Fediverse tagged #economicdepression, aggregated by home.social.

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  1. "Unlike the 1970s, the world’s growing economic interdependence as well as the diversification of the economies of the Persian Gulf mean even more sectors are directly impacted by the present crisis than was the case during the original oil shocks."

    #Trump #Iran #war #oil #gas #StraitofHormuz #economy #EconomicDepression
    /5

  2. "The answer, unfortunately, is that this has the potential to be the worst economic downturn since the Great Depression.

    The main reason this is the case is the past five decades of globalization following the very 1973-74 and 1978-79 oil shocks referenced by the IEA."

    #Trump #Iran #war #oil #gas #StraitofHormuz #economy #EconomicDepression
    /4

  3. "Donald Trump, it seems, has managed to outdo his first term’s mismanagement of COVID-19 with an economic crisis of extraordinary scope and scale, entirely of his making. In a recent interview, International Energy Agency (IEA) Chief Fatih Birol asserted the present energy crisis was already on track to be 'worse than the 1970s.' How bad is that exactly?"

    ~ Ryan C. Smith

    #Trump #Iran #war #oil #gas #StraitofHormuz #economy #EconomicDepression
    /3

    liberalcurrents.com/worse-than

  4. #WorldEconomy
    #EconomicDepression

    A lesson from the Great Depression of the '30s.

    Once depressionary psychology fully takes hold it's impossible to reverse it. Businesses are afraid to hire and spend, new hires become rare. Individuals hoard whatever cash they can acquire. These attitudes become ingrained for a lifetime.

    Now imagine this scenario with government supports stripped away.