There will be no “Great Depression” unless, by some cruel set of circumstances, Joe Biden somehow gets the electoral college vote. Had the United States stayed with Herbert Hoover in 1932, instead of listening the siren song of the architects of the New Deal, we would have been out of the depression by the first part of 1934. But NOOOO, the “brain trust” had all the answers, and all the fools in town on their side, and the depression was WORSE in 1938 than it was in 1931.
We are still crippling along with some of those “fixes” today. Most of them were on the order of “kicking the can down the road”.
The money the Fed is printing and Congress is authorizing is all borrowed - the U.S. does not have this money. The average American has $400 in savings. With all the people without jobs, Congress will not be able to print money fast enough to make these people whole...
Industry after industry being shut down - travel, restaurants, retail stores closed, all the auto manufacturing plants closed today.