Economic crash worse than in 2008?

this is an economic siege inflicted on a populace by its own elected representatives and pressure is building. Like some have mentioned already the regularly scheduled catastrophes from hurricanes et all are going to seriously hurt this year. Like ignored warnings of weakened levees, failure to anticipate and prepare will leave no time to react at the 11th hour

 

Oh, that's not going to go over well with those "militia" types, they're already pissed off. Not like the cool people of the UP. Life is somewhat normal here in the mountains. Huge influx of visitors, almost overnight, as if sprung from cages ( out of highway 9) Can't blame them, really. Dragging their 3 axle gooseneck trailers with their dually diesel pickups and 2 ATV's, no problem with those folks. And luckily, gas jumped .30 cents a gallon just in time,,,

 

Seventy percent of the American economy is consumption and there are no more consumers.
Even the people who still have jobs are paying down debt and saving.
Every year we need three million nine hundred thousand jobs just to keep up with the kids joining the work force, add in a million legal immigrants and another million illegals and it looks bleak.
We won't hit bottom for a year or two and by then we will have UBI, Medicare for all, free collage and a pony for the kids.

 

I think the economy will recover fairly well. First, this was a forced economy lock down. Basically a pause in a sense. States are opening up and people are returning to work. All the cash being dumped into the economy gives capital to businesses to operate and employ people. I think this is true, even though before the outbreak, the economy was heading for a down turn. Second, the timing is right. The weather is turning nice even up north and people want to get out as do “stuff” after being locked down, much like when we have a longer than usual winter. People have money to spend and this will drive up prices, particularly oil.

The questions are how will these choices made by congress, the president and government in general will now effect people and the national debt at $25 Trillion.

Examples:
People making more on UC than their regular job.

Future handling of pandemics and it effects on everything we do going forward.

Now that even the politicians realize having too much reliance on cheap foreign supply chains are not a good thing. Will jobs come back here and are Americans willing to pay $1.75 for a can of tuna instead of $1.40 to have those jobs here?

With the debt now at $25 trillion will a realistic solid plan to pay this debt down happen?

 

Is your wife's Salon full service or just hair?

 

25 trillion simply cant be paid off. Its a money printing pyramid scheme.

Im sorry to hear about your struggles @DUNE-T. Its all BS. Hang in there.

 

It will be paid off in blood and tears, it's just a matter of how long the political framework can play hot potato with it that determines who will get to pay for it

 

Its coming straight from the taxpayers pocket.