Is another economic crisis coming?

There is an old adage that leftists have predicted 13 of the last 4 recessions.

But when mainstream ecomonists start worrying about what's happening in the economy, well maybe...

In today's StarNews (Wilmington, NC) there were 3 articles in the business section titled "Are we heading for another bank crisis", "Get ready for another recession now" and "Older Americans are filing for bankrupcy more than ever". They represented about 1/2 of the section.

There are lots of reasons to be concerned. I hope to put together a post in the next few days outlining those reasons. It's coming and the only thing to worry about is whether it hits before or after November.

We Don't Need "Normalcy"

Can't pass this up:

"Recently, a group of corporate Democratic elected officials, billionaire donors, and lobbyists gathered in Columbus, Ohio to strategize about the upcoming midterm elections and 2020.

No, they weren't there to discuss how to turn grassroots energy into electoral victories and policies that will help working families. Instead, they were plotting how to use corporate money to stop our growing progressive wave from sweeping America in 2018 and 2020.

According to NBC News, pro-Wall Street think tank Third Way hosted the summit to provide a "safe space" for corporate Democrats "to figure out how to counteract the rising progressive movement." One attendee — a member of House Democratic leadership — described their outlook this way: 'If you look throughout the heartland, there's a silent majority who just wants normalcy.'" (from Working Families Party)

A number of comments come to mind: "There are none so blind as those who will not see"; "The definition of insanity is doing the same thing over and over again, but expecting different results”. Forget Russia and Putin. Forget Comey. These are the real conspirators, who are responsible for the demise of the Democratic Party and who handed over the government over to Trump and his fellow reactionaries. 

As a historian, I find it interesting that they would borrow a word used by the Republican candidate for President, Warren G. Harding in 1920. Harding won, the country returned to "normalcy". Big business went on a spree, inequality reached historic highs (soon to be exceeded in the current era). We should remember how that turned out.