A lesson you do not generally get from the media:
Recessions are bound to normally happen. They are not the fault of capitalism. They are also remedied by free markets.
Only those who don’t understand free markets act in a way that prevent normal corrections from being made. And when normal corrections are not permitted, you get prolonged recessions and even depressions.
Left-leaning politicians force the hands of economists who should know better, and thus we get bailouts instead of normal corrections, which may include self-correcting bankruptcies. Worse, however, is the ongoing poor psychology that persists among the population, as the result of political machinations.
Knee-jerk higher taxation, to make up for lower government tax revenue, adds to the bad psychology that sustains these severe conditions.
And when you are really a dumb politician you add legislation that the majority of the public does not want, at a cost that imposes even more enormous taxation, plus budget deficits.
All of which assure raging future inflation.
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