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Culture War Roundup for the week of September 26, 2022

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But doesn't that happen in cycles? The national economy starts to grow, then it revs up and year upon year everyone is getting richer, and it looks like the good times will never stop.

Until they do, and you are plunged into a recession. The Great Depression was like that, and so was Celtic Tiger Ireland where we were being assured that this time for sure, we had broken the old cycles, and Ireland was now going to be modern and self-sufficient and not at the mercy of outside forces anymore, and it would never stop. Then 2008 happened, and the housing bubble burst (exploded, more like) and suddenly people were taking the emigration boat and planes once more as the national economy stagnated.

plunged into a recession

The recession does not undo all the growth since the last recession. Even the Great Depression, the very rough picture was that each year of it wiped out 1 year of normal growth.

No, but recessions knock out "our economy is going to grow forever and ever and never again will there be a crash".

There is always a crash. There is always a boom.

I am not sure who in this conversation said "there will never be a down year" but anyone who said that was wrong.