Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The government and the central bankers are too foolish to recognize a simple fact- you cannot have infinite expansion in a finite realm. And you certainly can't have it by increasing the currency supply.
The economic "growth" since the last crisis has been fueled by Fed funny money injections, and now that it is collapsing again, they think they can keep the scheme going by injecting even more funny money.
It's like trying to sustain yourself on caffeine pills without actually getting any sleep, and just taking more and more of the stimulant to stay awake. Soon you'll just overdose and die. And that's what's going to happen with the "stimulus" this time. The amount we will need will far exceed that of the last crisis. We'll OD on stimulus and just kill the currency itself.
Last edited by Taggerung; 03-30-2020 at 11:20 PM..
I think this is going to flush out a lot of unnecessary consumer excess.
I've spent maybe half of what I normally do since this whole thing began. Restaurant and bar bills are all but gone. Travel is eliminated. I think I've been a hotel one night this year. Some of this is due to bad weather, etc., but my first "coronavirus free" travel weekend was either 3/7 or 3/15. I'm probably stuck locally until at least May.
I'm not happy about all this, but I'm not quite as miserable as I thought I'd be either.
Keep in mind what really brought America out of the depression to powerhouse economy, a world war.
In the meantime, keep my SS checks coming.
Scary thought indeed if western society were to truly have the bottom fall out. Chilling. Well just have to pull for the central banks and government to keep our way of life chugging long enough to return to a sense of normalcy. “Real wars” are fought over survival.
“We often hear the phrase “saved by Ww2” when it comes to the Great Depression. Saved by the war that cost 65,000,000 lives? What was the option? Starvation of the poorest in Eastern Europe had already began and revolution was in the air in the United States. No one can contemplate the extent of the disaster that’s coming now since we don’t conceptualize ww2 as being caused by economics. Perhaps it’s time to promote this explanation, so it’s clear just what kind of precipice we’re now looking over”
The calls of “Chinese virus” versus U.s being accused of initially spreading the disease to Wuhan. The slow drumbeat of propaganda. U.K. government mad “at the highest levels” and saying China will face a “reckoning”.
Last edited by Thatsright19; 03-31-2020 at 07:49 AM..
Scary thought indeed if western society were to truly have the bottom fall out. Chilling. Well just have to pull for the central banks and government to keep our way of life chugging long enough to return to a sense of normalcy. “Real wars” are fought over survival.
“We often hear the phrase “saved by Ww2” when it comes to the Great Depression. Saved by the war that cost 65,000,000 lives? What was the option? Starvation of the poorest in Eastern Europe had already began and revolution was in the air in the United States. No one can contemplate the extent of the disaster that’s coming now since we don’t conceptualize ww2 as being caused by economics. Perhaps it’s time to promote this explanation, so it’s clear just what kind of precipice we’re now looking over”
The calls of “Chinese virus” versus U.s being accused of initially spreading the disease to Wuhan. The slow drumbeat of propaganda. U.K. government mad “at the highest levels” and saying China will face a “reckoning”.
Now put China in the place of the U.S. in the late ‘30s. Back then America was the “isolationist” country with a rural/mercantile economy, eerily similar to the description of China today. History and economic necessity pushed the U.S. into a war. If we see war again it will probably not resemble WWII, but the consequences will be just as great.
I think this is going to flush out a lot of unnecessary consumer excess.
As much as I'd like to agree, I think the more cynical and realistic result is that there's going to be an explosion of consumer excess when the barriers go down. It might take a bit to ramp up - say, if we're back to normal circulation and business by July, it might not be until the holiday buildup that the curves really bend - but the backlash of fear and (at least so far) fairly minimal deprivation will trigger a national sense of being entitled to go bananas, "rewarding" ourselves and "making up" for lost time.
National marketing campaigns will feed this like gas on a bonfire.
Because people really don't learn. And haven't really been making their own decisions, in a macro way, for decades.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
