First of all, I am not saying here that the U.S. Republican Party is the ONLY cause of recessions. There have been, of course, other factors as well, but it was during the U.S. Republican era that 2 of the worst recessions (1929 and 2007) had happened.
I decided to comment on this topic after reading an article by Ryan Vlastelica, saying that 70% of fund managers see danger in global economy after the recent turbulence on Wall Street.
Although another recession hasn’t really begun yet (fortunately), what I am really concerning about is the current U.S. government, the Republican Party, who could not handle well (rather, worsened with inappropriate policies) the past 2 biggest recessions.
To put it another way, the U.S. Republican Party has had a chance to learn from their own mistakes – failure teaches success -. It might not be possible to come up with the best solution, but they should be able to come up with better ones than in 1929 and 2007. (Well, at least that is what I am hoping for.)
The best scenario is of course no more recessions. However, even in the worst case, there will always be a key to overcome ; history.
History is an accumulation of what human beings have done, so it teaches us how we behave in certain situation. There is no need to make the same mistake again if you learn from someone else’s mistake.
I am both excited and worried to see whether the Republican Party have learned from their past or make the same mistake for the 3rd time, if another recession were to come…