Of course, nobody will volunteer to take any portion of the blame.
Yet fingers will most assuredly be pointing.
- Trump will blame the Fed for hiking too fast.
- The Fed will blame Trump for starting a trade war.
Scarcely anyone will blame fractional reserve lending, lack of a gold standard, Congressional stupidity, or central bank cheap money and their bubble blowing tactics.
It is a given that mainstream media will not remotely come close to pointing a finger in the proper direction.
Mike “Mish” Shedlock
The voters will blame Trump.
The democrats will blame the republicans and vice versa. Same as with everything else. If the dems take control of the house, as expected, the government will be in paralysis in 2019/2020, so nothing will be done to try to fix it.
One thing we know for sure is that recessions and depressions existed for as long as there has been an economy, and even are described in the old testament, so they have existed for at least 3000 years. It certainly is true that these days they are less common and less severe than they used to be, so it’s kind of hard to blame modern things for making them worse.
“Of course, nobody will volunteer to take any portion of the blame.”
What blame? Here is another opportunity to open the money spigot and save the world and then strut about it. Who will be the three musketeers this time around?
The scoundrels.
Trump has claimed ownership of the bull market many times so he’s made his bed and will have to lie about it.
I believe I remember that Peanuts cartoon, including the missing first & last frames. It was not about the economy.
I’m sure we’ll hear from the Trumplings how it’s all Obama’s fault… or maybe some secret plot directed by Hillary and Soros. Whatever it is, Trump will be presented as a victim, you can bet it will cost you a couple IQ points to hear.
Who was sitting in charge during the heaviest years of excess QE that will make the next recession worse than it need be due to ever increasing debt levels?
Recessions happen anyway, no matter who is in charge.
I wish it would hurry up and get here!
Since Trumpty loves to boast, he can claim that he has the biggest crashes!
Trump will blame anyone just anyone. It doesn’t matter who. As far as I can tell Trump has never blame himself for anything – ever. How that wasn’t a red flag for Trump supporters is beyond me. the buck stops here. Here been anywhere but Trump
#Truth
Should be the guy who’s been taking credit for it (ahem, Trump), lol.
So who was to blame for the recessions that occurred before all those things?
They’ll blame Putin for have 10% debt to GDP and 2000 tonnes of gold.
I envy his fiscality(I just made it up, does it work?).
Noone. Blaming someone for perfectly natural variations in the rate of change in economic activity, makes about as much sense as blaming someone for the existence of valleys between hilltops.
What one can blame someone for, is messing up the entire planet, by attempting to get rid of the valleys, by moving dirt from ever further away in order to fill them in. Until all that’s left is just a gaping crater.
Well put Mish.