With recession lurking around the corner, economists are asking “how bad will it be?”
Recorded on October 19, 2018
The week of October 13th, both the Economist and Rolling Stone magazines ran articles highlighting the recession lurking around the corner. Both articles also point to the lack of remedies available to Central Banks to ease the downturn. On this month’s New Business Paradigms, Rinaldo focuses on the “titanic miscalculations” inherent in today’s chaotic mismanagement of the U.S. economy. He and Kristy also discuss the discouraging trends regarding wealth and power inequality in the United States. Other topics we address include the effects of climate change on our future world, the dangers of a toxic political environment, legal marijuana, and the urgent need for Americans to vote this November. Rebalancing our government in order to end ‘titanic miscalculations” will create opportunities to restore our nation’s international economic and political footing. Vote: your economic life depends on it.
Rinaldo quotes Adam Smith from his lesser-studied treatise on moral philosophy, “No society can surely be flourishing and happy of which by far the greater part of the numbers are poor and miserable.” On November 6th, we will do well to remember we are only as strong as the weakest among us, only as rich as the poorest in our midst.