Why the ‘Great Recession’ never came | DW Business

It's been a tumultuous few years for the global economy. Between the shock of the pandemic and the war in Ukraine, analysts had been telling us to brace for a "Great Recession." But this hasn't come to pass - and the United States in particular has been doing far better than expected - outperforming all other major economies last year despite a slew of interest rate hikes. DW Business speaks to Christopher Thornberg, Founding Partner at Beacon Economics about why this has happened and whether heavy stimulus spending could come back to bite.

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[martin]

I like this lady, always smiling whether the news is good or bad.😂😂😂

[zs]

They’re lying about inflation. Some services have doubled in price. The cost of basic materials have doubled. You can’t base inflation off a few staple items

[Maldonado]

Dude really said “ consumer incomes have grown more than corporate incomes” where, when, wtf are you talking about

[hjyryui]

He leaves out the most important part when discussing wealth inequality, because his argument would collapse if he didn't. The price of key assets/purchases (houses, cars) have increased proportionally far more than wages. This, and with higher interest rates, means the most expensive, important purchases for working (and especially, young) people are further out of reach.

Just because your $/hr is a higher number than it was in 2019 doesn't mean you are receiving more value for your work.

[eatcarpet]

America is a-ok, if you're rich.

[Rhodophon]

The economy is great for everyone except workers, the middle class, and the poor.
Apart from those groups, everything is going gangbusters.

[mira-qikb]

Tax the very wealthy that always paid the least. CEOs shouldnt be making 1750 times more than workers. WTF

[saynay]

This man: The economy is fine.
Also This man: But people are not.
Pure comedy!

[jledragon]

I love how he has a child's drawing of Voldemort on his wall 😃

[mxschumacher]

The problem with looking at these aggregated figures ("how much cash do Americans hold?" is the extreme inequality in the country. What do the numbers look like if you ignore the top 3% of households?

[Lobstrosa]

He says corporate profits "are not" at an all time high level.
A graphic showing corporate profits at an all time high immediately pops up.
Thank you DW.

[thewingedhussar]

The only issue we face in the US is the GREAT economic divide.
The rich (top 1%) have WAY to much of the money and are refusing to pay what they should pay to help the average person in their employment and are just sitting on their fortunes.

[kc_]

Remember that the US consists of 50 individual states and they run their own affairs. Some states are just doing economically better than other states.

[sting_grayl]

It's enticing to consider purchasing some stocks in this bull run. What are your thoughts on this? I'm contemplating investing more than $300k. While this can generate short-term excitement, their long-term impacts can be unpredictable.

[jamesalias]

The average American household didn't get $50, 000 or anywhere near that. So who's pockets were greased? We don't have excess cash.

[maksimmatkun]

Before every recession, economy seemed going up for few months.
This is actually bad news, because this looks like Great Depression 2.0

[cipaisone]

Wow, USA is going so well, no social problem within, no tension outside, a country as solid as a bridge!

[Jord.sanc]

The cash in Americans pockets only lasted about 2 weeks, everything it's ridiculous expensive after the pandemic so I have to disagree with the host 😑

[RickyRodriguez-pgyu]

This is some crazy gaslighting. Inflation is up over 10% for about everything necessary. We are in a recession

[KytexEdits]

What I don't understand is why people are mad at Biden. The economy isn't doing bad, it's that wages didn't always keep up, and that for example grocery store chains decided to increases prices even more than inflation just because they could. What do you want biden to do about this? And more importantly, what do you think trump would do better about it?