We’re going to have the Mother of ALL depressions, just a matter of when.
I’ve been waiting for this scenario for 50 years, I don’t believe in it any more.
The government has decentralized the issuance of debt. These debts function as money. The only traditional attribute of money that no longer exists is “store of value”, but people seem fine with that.
The issue isn’t collapse. The collapse has already happened.
The issue is jubilee. Without it, the issuers of debt money will wind up owning everything and everyone.