Goldman Sachs Recession Prediction

Goldman Sachs Recession Prediction

Last time around Goldman Sachs was one of the major contributors to the 2008 financial crisis and got undeservedly bailed out by the Obama government at taxpayer expense.

No wonder Goldman Sachs is far more optimistic about the impending recession caused by the Biden administration’s irresponsible money printing.

Goldman Sachs is sure they will get bailed out again during the next recession so they are far more optimistic than serious economists who predict at least a 50% chance of recession.

Biden’s trillion-dollar COVID rescue packages and eviction moratoriums all over the country caused both inflation and labor shortages, which inevitably led to the highest prices for consumer goods and services in decades, lack of available qualified employees, and unionized labor extortionist strikes disrupting a number of industries- all bad for business, bad for consumers and bad for the economy as a whole.

Had the Biden administration ignored populist extremists within the Democratic ranks and refused to promote rescue packages and eviction moratoriums, there wouldn’t be any inflation or labor shortages and there would be no need to raise interest rates pushing us towards recession.

As businesses were being reopened, desperate and hungry employees would be lining up to apply for jobs in fear of losing their housing and means of survival.

Capitalism always works better than socialism. “Rescue“ packages and eviction moratoriums only rescue parasites who don’t want to work in the first place!

The Biden administration’s populist rescue packages might have helped to maintain some popularity for democrats among a parasitic electorate but his abysmally low ranking suggests that such popularity quickly dissipates when the electorate is facing high prices, inability to buy a home, and poor quality services brought about by labor shortages.

To make things worse, gas prices are also on the rise due to the Biden administration’s policy of killing the gas and oil industry. Despite any kind of extortion by foreign oil and gas producers, the U S oil and gas industry is capable of fully replacing foreign sources of energy and significantly bringing down gas prices. However, for purely political reasons, based on self-serving climate hysteria advocates’ agenda, the Biden administration invests tens of billions in questionable and extremely expensive “renewable“ energy resources while artificially suppressing and destroying a successful gas and oil industry that has proven to be far more reliable than solar or wind scams.

In the meantime, California’s climate is actually IMPROVING by becoming more humid, with fewer chances for devastating fires and better prospects for agriculture! However, such improvements are highly inconvenient for the climate change mafia so they are looking for ways to maintain climate hysteria to avoid losing their political capital!

Inflation indicators may be improving but consumers won’t be happy until prices go down, until they are able to buy houses and cars with lower interest rates, and until their quality of life stabilizes or improves.