Eliud "Armstrong" Kipchoge wrote:
This won't be another Great Depression, not even close. Fiat currency will be the savior here, as The Fed has no constraints in maintaining liquidity in capital and money markets. Fiscal and monetary policy is much harder to implement when 40% of each dollar must be backed by gold, gold which is simultaneously flowing out of the country - Great Depression
Please...how is our superhero Fed Reserve going to save the day this time? Just keep creating trillions of dollars out of thin air and throwing it around like worthless funny money? That's not going to put people to work. That's not going to create jobs.
Mainstream economists are predicting "20%" unemployment - Great Depression levels! (a lot of us are going to end up on the street with the homeless - the same homeless that many of us have mocked & frowned on). I have relatives who will probably lose their businesses - restaurants & pubs that they have worked so long and hard for. They're drowning in stress & anxiety right now! I could be near financial ruin. My 401k has taken huge hit that - 38% decline so far! One moment things are great - and the then the next moment everything is obliterated by this administration's fearmongering!
The World's most powerful economy taken to it's knees by an administration that became consumed with fear because of a "virus." An administration that has no clue of the damage they've done. And an administration that is so tuned out to the average hard working American. And hard working for what now? An economy that has been annihilated by a scared to death administration?
Trump and his high-powered coronavirus task force have no clue of what is really happening out there in America. They not worried about losing their jobs!They don't have to worry about financial problems! They don't have to go out every day scavenging for food amidst empty store shelves! They get to work out at the WH gym (paid for by the tax payers!!!) while the rest of can't because of the lockdowns (I need my gym badly for my PT & rehab of chronic injuries sustained from a MV accident).
And people are consumed by fear for a "virus? Ha...too funny - they "ain't" seen nothing yet. When this Global Depression hits worldwide putting tens of millions out of work and out on the street they'll realize that it wasn't a "virus" that destroyed the world's economies but their childish FEAR!
https://youtu.be/nDFoF3izhGQ