October 1, 2022

ANALYSIS: TRUE. Policymakers caused the coming recession — don’t let them blame COVID and Ukraine.

If, as seems increasingly likely, the United States and world have a hard economic landing next year, of one thing you can be sure: Policymakers both at home and abroad will not assume responsibility. Rather, they’ll point to COVID, a once-in-a-century health crisis, and Russia’s invasion of Ukraine as the primary causes of our economic woes.

The truth of the matter, however, is different. Without a series of egregious policy missteps in a number of the world’s major economies, we could have avoided a hard world economic landing.

But they’ll act as if it’s something that just kinda happened.

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