Official 2020 US Election: Democratic Party Discussion

[Bofferbrauer2]

Jaicee said:

Elizabeth Warren recently wrote an opinion piece for Medium contending that another economic crash on par with the Great Recession is brewing, owing to the U.S. economy's total dependence on steadily escalating levels of both household debt and corporate debt that are now at crisis levels and marked by a now-proven recession in manufacturing, the inversion of the Treasury yield curve for the first time since 2007, and other serious danger signs. In particular, she warns of the phenomenon of "leveraged lending", which refers to the practice of lending to companies that are already significantly in debt; a high-risk practice, which she compares to the infamous subprime mortgages that led directly to the 2008 crash, that has increased by 40% since the start of 2017.

And of course, she outlines proposals to address each of these problems, the best of which, IMO, is a structural change in how the American economy works: a law giving workers at large American corporations the right to democratically elect at least 40% of their board members (here are some of the details on that). Lots of other policy change proposals are mentioned as well.

I really thought this article was compelling in highlighting serious problems with the way our economy is currently working that haven't been much of a focus in the news and that the solutions she outlined make sense. THIS is the kind of reason why I think Elizabeth Warren is the best candidate for president running!

I also love how she has provided all those links as proofs for what she's saying, and I agree.

However, there's one thing I fear: Since the downturn will pretty much be Thanos inevitable and start pretty much at the very beginning of the next presidential period, I somehow want Trump to be reelected so the whole mess falls into the lap of the person who provoke it in the first place instead of the republicans having a field day on blaming the democrats for the economy for the mess they themselves created.