This depression will be a lot worse than the 30’s. There was no giant government entitlements to pay or overstuffed government jobs to keep going. As the economy grinds to a halt and the job losses mount there is no way to save it. Face it this will be a total collapse. This is a death spiral with no way out. We will all be hit. As the economy fails the goose laying the golden eggs dies. And it is failing. In six months unemployment will be 20% and climbing. No way out.
I am hoping you are wrong but dreading finding out that you are right.
I take it you’re a bit bearish on the markets, then?
“This depression will be a lot worse than the 30’s.”
We’ve already had breadlines for the past 40 years and called it welfare.
I couldn’t agree with you more that this will be worse that the 30s. There is a much higher percentage of people dependent upon the gov and more that think they are owed something. The public sector employees are strangling this country. The Dems will give them everything they want. We are in for hyper inflation to keep things going for those on the dole. The M1 is going way up, the M1 multiplier is going way down, and we are screwed.
Much of the country is not nearly so bad off. The ulyness is not uniformly spread across the country.
The intractable moonbats need to die before there can be economic resurrection.