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?
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!
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.
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.
Donald Trump is the greatest debt negotiator on the planet. It was President Trump who realized, back in his casino days, that if you owe a bank more than they can afford to lose you own them.
China beware. I believe after the election he will sit the ChiComs down and give them an offer they can’t refuse. Take a massive haircut on the U.S. Debt you hold or get nothing,nada,nil. And Trump will use the Chinese caused Coronavirus as an excuse.
Once we de facto accept our bankruptcy and wipe out a bunch of China owed debt the way forward will be unlimited. Just like any company coming out of chapter 11 with a good service or product people want.
Once our massive debt is renegotiated our economy will boom!!
Yes, it will collapse. There is plenty of demand and that should suggest a rebound, BUT, we have dictator governors and mayors who NEED this economy to crash to hurt Trump’s reelection. We have seen they will stop at nothing.
One more month of this will not crash the economy, even Wall Street can read charts.
bump
It would look like the Obama presidency.
If it does, I’ll be ok. A whole bunch of libs/govt employees will perish immediately. I’ll have a lot more time to hunt and fish.
This not how an economy collapses. Pent up demand will emerge. Even with the stimulus, we will lose some small businesses and some big ones that were on the edge before.
The holes will be filled quickly and we will come roaring back due to the structural changes President Trump has put into place.
How is that possible? How quickly Americans can get back to work is based on when the lockdowns, caused by the virus, end.
If the lockdown ends in weeks, not months, the economy will rebound.