It’s not wrong though. The US bourgeoisie have been trying to engineer a recession for the past two years. That’s why the Feds hiked interest rate - to curb inflation by creating unemployment which will lead into a recession.
But what the central bankers didn’t understand was that the US treasury bond is so huge that raising interest rate simply ended up having the federal government creating a huge deficit (~$1 trillion paid out in interest in 2023 alone) that through the “trickling down” of such a huge mass of money, still managed to keep the economy barely afloat.
If you think about how capitalism actually works, it makes sense: the bourgeoisie want austerity, but since monetary austerity (raising interest rate) is not working as they had anticipated, they’re doing the industrial austerity (laying off workers) themselves.
The end goal is to create unemployment, make people lose their savings, healthcare and becoming more indebted, induce a recession and then rehire them at lower wages. Its function is to discipline labor.
The goal of a recession is also in line with the military industrial complex and the national security state since the US military has been having a lot of trouble recruiting people into the military - a recession and mass employment would generate a surge in military enlistment needed to rectify their current predicament.
It’s not wrong though. The US bourgeoisie have been trying to engineer a recession for the past two years. That’s why the Feds hiked interest rate - to curb inflation by creating unemployment which will lead into a recession.
But what the central bankers didn’t understand was that the US treasury bond is so huge that raising interest rate simply ended up having the federal government creating a huge deficit (~$1 trillion paid out in interest in 2023 alone) that through the “trickling down” of such a huge mass of money, still managed to keep the economy barely afloat.
If you think about how capitalism actually works, it makes sense: the bourgeoisie want austerity, but since monetary austerity (raising interest rate) is not working as they had anticipated, they’re doing the industrial austerity (laying off workers) themselves.
The end goal is to create unemployment, make people lose their savings, healthcare and becoming more indebted, induce a recession and then rehire them at lower wages. Its function is to discipline labor.
The goal of a recession is also in line with the military industrial complex and the national security state since the US military has been having a lot of trouble recruiting people into the military - a recession and mass employment would generate a surge in military enlistment needed to rectify their current predicament.