DEPRESSION CAN BE GREAT!


I’M FROM THE SCHOOL THAT THINKS WE SHOULD HAVE ALLOWED THE GLOBAL ECONOMY TO GO INTO A MILD DEPRESSION AFTER THE HOUSING BUBBLE BURST BECAUSE WE WERE ALREADY HEADED FOR A DEPRESSION ONCE THE BOOMERS RETIRED IN FULL FLIGHT BANKRUPTING BOTH THE SOCIAL SECURITY TRUST FUND AND MEDICARE.

INSTEAD WE BOUGHT OUR WAY OUT OF A MILD DEPRESSION IN 2008 (AND INTO A GREAT RECESSION INSTEAD) BY BORROWING UP TO OUR EYE BALLS IN DEBT. THE COMBINATION OF THIS DEBT LOAD COUPLED WITH THE SOON TO BE HERE BOOMER RETIREMENT DEBT WILL DRIVE US INTO A REALLY, REALLY GREAT DEPRESSION INSTEAD OF WHAT COULD HAVE BEEN TWO MILD ONES. THE 2 TRILLION WE JUST BORROWED FOR THE PANDEMIC ONLY MAKES THIS WORSE AND LIKELY WILL MAKE THE GLOBAL DEPRESSION HAPPEN SOONER AS OPPOSED TO LATER!

AND THAT IS ALL I’M GOING TO SAY ABOUT THAT!

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