Posted on 04/02/2020 2:36:33 AM PDT by DEPcom
If the U.S. economy were to collapse, it would happen quickly. No one would predict it. The surprise factor is, itself, one of the causes of a collapse. The signs of imminent failure are difficult for most people to see.
Since our huge unfunded Social Security and Medicare liabilities will also come due over the next 10 years, our prospects are not good.
When 60 million foreign born and first generation Americans realize that absolutely NO ONE is going to be stupid enough to pay their unfunded Social Security and Medicare, there will be violence in the streets.
The national debt has long been unsustainable.
That said, most of the world is running huge national debts.
I would make an educated guess that if the US economy collapsed, the rest of the world economies would soon follow...domino effect.
“Will the US Economy completely Collapse?”
No. Next question?
Oh. Well, there you go. For your next pronouncement, you should say there will be no hurricanes, ever.
Will our governments paralyze our economy because of a virus? 3 weeks ago almost nobody would have said yes. We are in uncharted waters. Once you stop the heart of the economy - millions of daily small transactions - there is no guarantee the patient will revive in anything near the same condition. No one knows. Uncertainty breeds fear. We haven’t yet seen the impact of people panic selling houses, resulting in a mortgage-housing-financial industry crisis worse than 2008. Or a run on the banks, as people decide they need their cash. Pandora’s Box has been opened and the bad things have just started to emerge.
Most states are on lockdown in name only.
We're going to be fine.
The collapse has been happening for over 40 years. Trade deficits with balance of payments deficits have been supported by the shifting of losses into colossal debts of all kinds. The solution is to start manufacturing much more on U.S. soil and decouple with nations of adversarial character.
No it wont, Sadly this is an opportunity for many to make more money quickly. To many people heavily invested
No!
As someone else pointed out, this is not the result of a war where everything is destroyed. People are getting sick, people are dying. But as they say, this too shall pass.
When it does we will do what we always do after a disaster. Pick ourselves up and move on.
Now, in general things will go back as before, but there are going to be some losers.
Some businesses and industries that have not kept up with the changing technology may not recover.
Somebody on this thread has to be Gerald Celente.
I saw something stunning happen when my company lost its multimillion dollar contract for Army radios. We had one of the most advanced fully automated production lines in the world. It was amazing. But it cost millions of dollars. The local community taxed the facility on the purchase price so every month the company paid something north of a few hundred thousand dollars in taxes to the county (or city. I don’t recall which.) The company explained to the taxing authority it had lost the income stream and asked them to stop the tax as it would take time to repurpose those assets to other projects. The taxing authority said no. The company GAVE away the equipment the local university could use and scrapped millions of dollars worth of the remainder within thirty days. So, will companies survive with no income. That depends largely on how they are taxed.
“The solution is to start manufacturing much more on U.S. soil and decouple with nations of adversarial character.”
I think that is a good solution. That one help kick the economy off real quick.
Before the virus the US economy was doing very well. I think this is a good indicator on how fast we bounce back. Hopefully the corporations will fix there broken supply chain issues by opening plants in the US, Mexico, and Canada.
I think the biggest short term impact is the 401K and pension plans.
Topped off all my mags the other night.
Keep up with changing technology?
The technology of of shutting down commerce and supply chains for 2 months? You must live off the government teat.
The move to clean up Mexico started yesterday.
The relationships between the north american countries will be changing dramatically after this.
“The move to clean up Mexico started yesterday.”
Does that clean up have something to do with Narcotic operations on the border?
Lol
Either fasten your seatbelts or get in the clown car .....
you want what is right now and will be for a while the most important variable to not be discussed so there’s really just a bunch of garbage being written on this page.
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