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I believe it will, but as long as the government keeps pumping trillions of dollars into the economy, it will be delayed.
"as long as.."
That worked for a while, but it's done. Hyperinflation has already started to set in. It won't delay anything at this point, just make it worse.
Every single bit of all that we're seeing was essentially planned. Not down to minute details, but the economic destruction, the civil unrest, the steady ratcheting away of our freedoms by the authoritarian push - even the pandemic trigger.
This is the Great Reset. It's public info - not a conspiracy theory. You just have to look at their website.
They meet every year in Davos, plan how they're going to rule the world, and then they work toward those goals. The news talks about how much cleaner the air will be or whatever, but that's not really what they're discussing. That's just what the news tells you.
No, the government can't kick this can down the road any longer. I could believe it, if we had an otherwise strong economy, but everyone's quitting, mandates are forcing others out, lockdowns are killing all businesses except the multinationals. People aren't producing. They're not earning. These are the things which MAKE the economy. It's a hollow shell at this point - we don't have the economic activity to back up those loans anymore. It's over.
the concept of money has become... elusive?
what is it other than numbers on a screen?
that being the case, what's to stop us from hitting the delete button and starting from scratch?
the government seems not to care about spending ungodly sums of money that isn't backed by anything substantive.
it's like they know something we don't know, and/or maybe they're really that dastardly.
best case scenario might be to find new ways to value goods and services that work better with those numbers on a screen, or perhaps not even involve them.
we might be making our lasts grasps of clinging to a dying or dead system.
it's what lies between the old and the new that we might should be a little concerned about. maybe disconnect from the new too, assuming it could be worse.
edit: oh yeah, the Great Reset.
that's definitely something.
There are cycles every few years so we are always heading for a recession -- not a depression or at least not like what we think of as a depression. The economic shock of the pandemic was very peculiar and remains so. Believe it or not, there will be major economic crisis over climate change which will be altogether different from past depressions and recessions. The link below outlines some of the global health effects of climate change. If you live at an at-risk location and are running out of water or faced with constant diarrhea or malaria you will likely move to a less risky location if you can -- and maybe even if you can't you will have to move. Forty-percent of Americans live in counties that border the ocean and some of those areas are at risk for flooding with tremendous property losses.
A well-respected Univ of Michigan research group that studies consumer sentiment correlation to recessions, is predicting the start of a recession by the end of 2021:
Since a recession is 2 consecutive quarters of falling GDP, it will not officially be called a recession until 7-11-22 ...if the U of M group are right again (they've had a good track record).
How deep will it be? How long will it last? That depends upon these factors:
-how much more will Biden & the Dems add to our $29T national debt?
-how fast can the feds get us back to work? Ignore unemployment rates...focus on labor participation rates.
-will voters end the Dems rule of the House & Senate in 2022?
-will voters put a conservative Republican in the White House in 2024?
-will there be a new war? (Taiwan, or Iran)
That is what my coworker and a few other keeps saying. I’ve heard drastic things like this for years and while there was some hard times nothing ever completely collapsed. I know Biden is terrible but are we really headed to a depression?
Did you forget 2020?
The Pandemic and the complete shutdown of the World Economy?
Somehow even with all of the calamity we faced last year we survived economically so I'm trying to figure out what makes you think we are even remotely close to such a precarious Financial situation again.
That is what my coworker and a few other keeps saying. I’ve heard drastic things like this for years and while there was some hard times nothing ever completely collapsed. I know Biden is terrible but are we really headed to a depression?
Yes we are, and not just because of biden. The USA is so far in debt the only eventual out come is default. If you had a household monthly income of $5000 and spent $6500 every month, sooner or later you would collapse. The outcome would be delayed by your credit, your savings, your assets that were liquid and how many people believed you would turn it around. But, unless you changed your numbers to a positive balance, you would eventually go broke.
Politicians blow smoke about a balanced budget. Well that ship sailed years ago. When you are trillions in debt, a balanced budget means nothing. Balanced doesn't pay off debt, and debt will eventually collapse us. I bet you would be shocked to see how much the wealthy in this country have converted their cash from U.S. currency into gold, silver, and other much more solid forms of wealth. They are buying property, especially farmland at record rates.
The reason our crazy spending has picked up? The politicians know the country is going down. They are looting everything they can. When we collapse, it wont be pretty like the depression. The true contempt the elitist and mega wealthy have for the common man/woman will come out. As technology has replaced the value of a strong back and willingness to work, it has eliminated the need the wealthy have for the poor and uneducated. The poor are clamoring to bring more power to the very people who will eventually kill them.
Look at any country that was taken over by socialist. They weed out the poor, then middle class, and finally any who do not serve the needs of the wealthy. Russia, China, Uganda, Cambodia, and every other nation that fell to socialism did so due to a financial collapse. Everyone of these new regimes then began purges. They eliminated the poor who assisted the new leaders in the takeover. The people who thought they would be given free food, housing and healthcare as a reward for their help were slaughtered. The elitist don't share with commoners, they always renege. It is coming here and sooner, not later.
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