The people of this nation have the ability to put a stop to what is otherwise going to be a certain collapse -- not just in asset markets but of the government itself. This is not going to happen in 2024 when Medicare cannot pay it will happen before that date because in the history of the world markets have never allowed an actual end date to be reached before they throw up all over the impending disaster. To expect otherwise is to claim that literally everyone in the world is stupid beyond words.
May I point out that when Medicare's funds are exhausted that $1.1 trillion dollar expenditure (and rising) from last year will be immediately reduced by 75%? That's right -- they took in just $260 billion last fiscal year in Medicare taxes but spent four times that amount. If you think the government can immediately add $800 billion to the deficit without interest rates spiking to 10% or more overnight -- which instantly crashes the markets and government both -- you have rocks in your head.
Unfortunately, a market loss of 90% as predicted by the article is probably what it takes to bring some sanity back to the country. But it's dangerous. While you'd hope that we'd stop spending money on stupid shit and concentrate on righting our ship it would be prime territory for Filthy Collectivists to roll in and sell rainbow farts from unicorns.
C-Mag wrote: Mon Nov 26, 2018 8:02 am
Unfortunately, a market loss of 90% as predicted by the article is probably what it takes to bring some sanity back to the country. But it's dangerous. While you'd hope that we'd stop spending money on stupid shit and concentrate on righting our ship it would be prime territory for Filthy Collectivists to roll in and sell rainbow farts from unicorns.
How much of a percentage did the stock market lose at its worst in the 1930s? I think real inflation has been a thing for quite sometime but I also think cyclical recessions are part of our mixed economy. Lets hope its not the biggest one yet next time. I'm no burn it down type. There's too much I still value in my Homeland and there's too much risk involved in that type of social/economic crises. Unless you've lived through the 1930s I don't think anyone can really even imagine how difficult it was for many many people here in the U.S.
And who did real well politically then...well people like Huey Long (dangerous mofo).
