Subject: Re: Jobless Claims Spike
Everything is now pointing to a recession. We will see if they can avoid that catastrophe.

Do the oligarchs really want to avoid a recession? Because it's not a catastrophe for them.

If we do slip into recession, the Fed will almost certainly cut interest rates. But those rate cuts won't flow down to consumers. They never do. Credit card rates will remain at 25% or higher. Auto loans might get a break, but only from car makers subsidizing them. Home mortgages might go down a bit because that helps the wealthy.

But businesses are the big beneficiaries of interest rate cuts. And you can be sure that any savings from the rate cuts will flow to the C-Suite first, with any leftovers going to shareholders.

So I'm not all that sure the current administration cares if we slip into recession.

--Peter