{"id":7787,"date":"2019-04-23T07:25:26","date_gmt":"2019-04-23T06:25:26","guid":{"rendered":"https:\/\/www.wasteyourtime.co\/?p=7787"},"modified":"2020-07-09T07:10:21","modified_gmt":"2020-07-09T06:10:21","slug":"recession-10-years-later-we-have-not-learned-the-lesson","status":"publish","type":"post","link":"https:\/\/traders-paradise.com\/magazine\/2019\/04\/recession-10-years-later-we-have-not-learned-the-lesson\/","title":{"rendered":"Why Recession 10 Years Later? We Have Not Learned The Lesson!"},"content":{"rendered":"<p style=\"text-align: right;\">\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_74 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/04\/recession-10-years-later-we-have-not-learned-the-lesson\/#Economic_experts_and_academics_agree_that_there_is_a_real_possibility_of_the_US_facing_a_recession_by_the_end_of_2020_but_how_well_is_the_US_prepared_for_it\" >Economic experts and academics agree that there is a real possibility of the US facing a recession by the end of 2020, but how well is the US prepared for it?<\/a><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/04\/recession-10-years-later-we-have-not-learned-the-lesson\/#By_Gorica_Gligorijevic\" >By Gorica Gligorijevic<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/04\/recession-10-years-later-we-have-not-learned-the-lesson\/#Why_recession_ten_years_later\" >Why recession ten years later<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/04\/recession-10-years-later-we-have-not-learned-the-lesson\/#Criticism_of_economic_inequality_in_the_US\" >Criticism of economic inequality in the US<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/04\/recession-10-years-later-we-have-not-learned-the-lesson\/#Update_81019\" >Update 8\/10\/19<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h4><span class=\"ez-toc-section\" id=\"Economic_experts_and_academics_agree_that_there_is_a_real_possibility_of_the_US_facing_a_recession_by_the_end_of_2020_but_how_well_is_the_US_prepared_for_it\"><\/span><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-7788\" src=\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/04\/recession-10-years-later-we-have-not-learned-the-lesson-2.jpg\" alt=\"Recession 10 Years Later? We Have Not Learned The Lesson!\" width=\"800\" height=\"533\" srcset=\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/04\/recession-10-years-later-we-have-not-learned-the-lesson-2.jpg 800w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/04\/recession-10-years-later-we-have-not-learned-the-lesson-2-300x200.jpg 300w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/04\/recession-10-years-later-we-have-not-learned-the-lesson-2-768x512.jpg 768w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/04\/recession-10-years-later-we-have-not-learned-the-lesson-2-370x247.jpg 370w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/04\/recession-10-years-later-we-have-not-learned-the-lesson-2-760x506.jpg 760w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/04\/recession-10-years-later-we-have-not-learned-the-lesson-2-424x282.jpg 424w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/>Economic experts and academics agree that there is a real possibility of the US facing a recession by the end of 2020, but how well is the US prepared for it?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h6><span class=\"ez-toc-section\" id=\"By_Gorica_Gligorijevic\"><\/span><a href=\"https:\/\/www.linkedin.com\/in\/gorica-gligorijevic-860b74104\/\">By Gorica Gligorijevic<\/a><span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p><span style=\"font-weight: 400;\">Why recession again, how is possible that we didn&#8217;t learn the lesson? April 30th will mark the 10th anniversary of Chrysler\u2019s bankruptcy, one of the victims of the Great Recession of 2008\/09. <\/span><br \/>\n<span style=\"font-weight: 400;\">This recession was started by the largest bankruptcy in history, by the fall of the Lehman Brothers. Which showed, along with the dot-com recession before it, that the excesses of Wall Street can cause severe <a href=\"https:\/\/traders-paradise.com\/magazine\/2019\/01\/stocks-inflation\/\">economic downturns<\/a> with global repercussions. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Wall Street was to be blamed for the software stock and housing bubble which brought the US and global economies to their knees. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Ten years later we are still wondering whether the US and the rest of the world are prepared for another recession. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">And these worries look more pressing with the Fed\u2019s <a href=\"https:\/\/www.federalreserve.gov\/econres\/feds\/files\/2018055r1pap.pdf\">yield curve study\u2019s February 2019<\/a> update upping the odds for recession from 14% to 50%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the past couple of years many prominent economists, such as Paul Krugman, have been warning that the US regulators are ill-prepared for the next recession and that their response to the previous one was ill-suited. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Such voices of concern are now joined by the Economic Policy Institute, Washington, D.C. based think-tank, in a <a href=\"https:\/\/www.epi.org\/publication\/next-recession-bivens\/\">recent report<\/a> authored by Josh Bivens, the EPI\u2019s director of research.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_recession_ten_years_later\"><\/span><b>Why recession ten years late<\/b><strong>r<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">In June of this year recovery from the Great Recession will enter into the 120th month of economic expansion in the US. That way equaling the previous longest period of economic expansion which started in March of 1991. <\/span><span style=\"font-weight: 400;\">This record-setting is making people wonder when will the next recession hit? <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bivens state and many other experts agree, that there are real chances for it to happen by the end of 2020. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">With Fed\u2019s also upping their projection of chances one has to ask themselves are the US ready to tackle the next recession?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While most people think that the next recession will trigger a suboptimal response from policymakers, because of too high public debt and loo low-interest rates, it ain\u2019t so. Though no person can successfully predict a recession, everyone can see their root causes. And the common theme is the fall of the aggregate demand, i.e. a decrease of the economy-wide spending relative to the production capacities. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">EPI\u2019s report goes to show that there are very little risks of the fiscal contraction causing the next recession. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">And due to last year\u2019s tax cuts, which are fiscal expansion measures, this is a no brainer. But that does not remove the risk of monetary contractionary policies, which could be triggered by vanning effects of Trump\u2019s tax cuts, and is evident from the interest rates hikes in recent years.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Criticism_of_economic_inequality_in_the_US\"><\/span><b>Criticism of economic inequality in the US<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">EPI\u2019s report can be read as a stern criticism of economic inequality in America, as it exposes direct connection of policymaker\u2019s preference to aid large financial institutions and unwillingness to enact fiscal expansionary policies as a response to the economic downturn. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Simply put economic inequality and the austerity measures worsen the recession dynamics which are driven by the fall of the aggregate demand. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bivens says that Fed\u2019s interest rates hikes have given to regulators sense of normalcy, but robbed them of sense of urgency to provide recovery for all Americans and not just the Wall Street. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Low- and middle-income households spend a higher percentage of income than rich households, but also have a much higher propensity for spending. With the growing economic inequality being most visible in the stagnating wages of low and middle-income workers, the aggregate demand they could generate is limited, thus putting a severe limit on the recovery from a future recession, as the speed of recovery is depending upon the ability to spend.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But, according to Bivens, it\u2019s not just household spending inability which will impede the future recovery.<\/span><\/p>\n<p>&#8220;A key lesson from the Great Recession is that fiscal policy is the most effective tool for aiding recovery,&#8221; he said.<\/p>\n<p><span style=\"font-weight: 400;\">And for most of the recent recovery, the US government was very shy of the fiscal stimulus out of fears of the level of public debt. When the Fed Chair, Ben Bernanke, took unprecedented action in severely cutting interest rates he sent a very loud message to policymakers that they must do more by providing sustained fiscal stimulus. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">With the recent bipartisan support to declaring the US public debt as a single greatest national security risk, the US economy looks less than ill-prepared for answering to the next recession.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Update_81019\"><\/span><strong>Update 8\/10\/19<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Traders-Paradise recently got this email from Andy Kearns, Content Analyst in LendEDU:<br \/>\n&#8220;Quite recently, our team conducted a nationally-representative survey of Americans to gauge their sentiment towards the situation of an economic recession. I believe our findings on how the risk of a recession might change consumer spending and investing habits could be an interesting addition for your readers on this page&#8230;You have my permission to use anything from the report that you liked.&#8221;<br \/>\nThank you, Mr. Kearns.<br \/>\nSo, here you, our readers, will find interactive graphs and charts that display the answers to their survey questions. Also included is an Analysis of Results section so consumers can better understand their findings.<\/p>\n<p><a href=\"https:\/\/lendedu.com\/blog\/economic-recession-report\/\">Here is a link to the full report<\/a>:<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Economic experts and academics agree that there is a real possibility of the US facing a recession by the end of 2020, but how well is the US prepared for it? By Gorica Gligorijevic Why recession again, how is possible that we didn&#8217;t learn the lesson? April 30th will mark the 10th anniversary of Chrysler\u2019s [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":7789,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[1004,1005],"tags":[923,924,925],"class_list":["post-7787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-financial-news","category-market-today","tag-bankruptcy","tag-economic-downturns","tag-recession"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why Recession 10 Years Later? We Have Not Learned The Lesson!<\/title>\n<meta name=\"description\" content=\"Recession is coming for the US! 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