Now the big failures loom. Bankruptcy's, bond defaults, and DARK money. As I recall, dark money was a huge problem in 2008 and no one did anything about it and it is a even larger problem now, as I have read.
How big a problem will that be? And how will it manifest?
So this economic decline could be worse than 08. Massive unemployment, social chaos, and food shortages. People will become desperate like in the 1920's. We will need to massively repair our social safety net, but will Trump and the Republicans work on that?
It was told during the great depression some Republicans advised letting the depression run to get rid of the dead wood. Will that be their tact again? The Republicans have been shown to be very heartless and Trump is the king of heartlessness.
The entire carbon sector looks to be in huge trouble financially and we can surmise the service sector, manufacturing and farming will be in big trouble too. . How will all these defaults and bankruptcy's reverberate throughout the world's economies.
2008 was actually an easier fix, IMO, as it was pretty much just the financial sector, but now it is the financial sector plus a categorical economic depression and there is less the fed can do AND we have Beavis and Butthead in charge of it all.
People will start losing jobs en masse, and defaults and bankruptcy's will sky rocket and what will happen when Trump starts spending trillions to mitigate it. The deficit will soar. And we all know Trump will help the rich, but do less to help the poor.
And then there are the unknowns.
God help us all-lol!! |
