March 29, 2020
Rising to the Challenge: Can This Be a Great Generation?
By now it should be fairly obvious that we are headed for an economic depression. Even small dips America’s economic activity produce recessions. The unprecedented lockdown of large parts of the United States will inevitably produce a depression such as we have not witnessed in our lifetime. This would actually be a lucky scenario. If the shutdown goes on much longer the result will be a severe economic depression followed by fiscal breakdown and the unavoidable societal upheaval. Please make no mistake: the federal government cannot legitimately finance this country’s closure. The fact is that it simply does not have the money to bankroll the gargantuan stimulus it has just approved. In fact, our government is broke and it only lives on further borrowing. If we keep going on like this, it is only a question of time before the buyers of US treasuries completely lose their faith and the dollar collapses in an inflationary spiral. When this happens, all hell will break...(Read Full Article)