Recession = Consecutive Record Profits and Higher Prices?


I’ve been trying to figure this one out for a while. We are supposed to be in a recession that started in the early 2000s, got that part. But then the energy industry (mainly oil) and the insurance industry starts posting record profits. I saw some reports that were somehow ignored by economists (Citibank is all up in there too). Everyone goes about living life.
Now, how is it that the Insurance and Energy industries know that money was there to be bilked and our Government economists did not?
Now as for those ads that show the Insurance Industry giants; Bluecross Blueshield being on top, as being a caring business entity… I think people need to realize that during this “Recession” they have increased their price double digits each year. Don’t forget the oil Industry, we’re paying more than $3 per gallon at the pump in the U.S. markets. God only knows how much across the UK, Asia, and other continents. How does that equal being caring? Millions of people have been laid off, coverage reduced, oh and companies bankrupted among other things so they could make their record profits.
If I’m an idiot for writing this, it would seem that people need to dumb down their thinking a bit. Come down to my level.
And for those of you who want to use this as a platform to make the Republicans case; maybe you need to take a history lesson to remember how we got into this mess in the first place. If I remember right, a certain 2001 President was Republican. And when he left office things were… Um… Well anyway, no I’m not.
But questions need to be asked. One question in particular is; when did the recession really end? And why the huge layoffs? Why the insurmountably ever increasing prices? Etc. etc. etc… Maybe demand better answers than those accepted by Congress a few years ago. I was actually ashamed watching the CEOs make a fool of our Congress on national television. Just saying….
Blessings and love
Alpha-meta

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