Quote:
Originally Posted by iggy_oi
I was merely stating that it would have an impact in both scenarios, since booms create their own issues regardless of what the unemployment rate is or how much extra overtime people are getting, as one poster stated. I also pointed out how in some cases it could be worse for people or businesses in certain scenarios, but never said across the board it would be worse.
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Sure, everyone knows that, why even mention it? Of course there are people struggling regardless of the economic climate that exists around them, so an extra expense will always impact someone.
In a recession, it's more so.
I understood that your point was that a boom has its own issues, but, as I've said multiple times already,
those issues pale in comparison by levels of magnitude when comparing them to those found in a recession. Businesses struggling in a boom? Well, they're out of business and there's 10x more struggling in a recession. People unable to pay bills in a boom? Well they might have have a job and 10x more people have joined the ranks of 'struggling.'
Again, saying "well booms have issues too" is irrelevant, because it's like saying having a cold is bad too to someone with cancer. It's a dumb argument to make. Recessions are unequivocally worse across the board and any issue that a boom has is multiplied in severity.