The Greatest Depression Is Coming | What It Will Be Like by Ken Jorgustin for Modern Survival Blog
The Greatest Depression is going to be so bad, it will shock the world. It’s not going to be ‘just’ here in the U.S., it will be global. The systemic risk is entirely global.
Before some of you immediately reflex and accuse me of click-baiting, this is simply my opinion and belief that we’re likely headed towards very difficult times. I would like to talk about it, logically, sensibly, and gather your opinion as well. (That’s a good thing for preparedness.)
In anticipation of the following argument, I will address it right up front. Many will say that any economic decay will remain slow and steady. Therefore most who may be affected will be able to adapt and cope. There will be no Greatest Depression. I respectfully disagree. I do believe that there is a tipping point at which any further economic stimulus will be entirely ineffective. Game over. We’re not there yet. But with today’s worldwide negative interest rates (and the FED with only ~2 points left), it’s a race to the bottom. We’re getting closer.
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I don’t like to imply predictions. However, there are two lines of thought. One, it goes down the tubes before the 2020 election, and two, it blows out not long afterwards.
- The efforts to take down Trump have so far, failed. The latest attempt and “drum beat” is talk of “recession”. The powers-that-be know this will not bode well for reelection. Problem is, this might inadvertently (or otherwise) be the black swan event that actually takes it all down for real. Before the 2020 election.
- For Trump it is imperative that he keep the economic ‘good times’ rolling. He needs to keep that bubble from popping to get re-elected. The other day he said that the FED should drop rates another point as well as kick off new QE (quantitative easing). He might keep it afloat with the last remaining stimulus for now, but the chickens are coming home to roost. And that might be not long after the 2020 election when there’s literally no “ammo” left with the Federal Reserve.
It’s a intertwined global systemic problem. The Global Debt Bubble is currently more than $250 Trillion (2018 numbers). Likely approaching $300 Trillion today. I’ve read that 30 Central Banks have lowered their interest rates this year. Most all rates are now NEGATIVE. In other words, you buy bonds and when they mature you get less money back than you put in. Crazy. And the U.S. doesn’t have much room left for their own rates… The equity market is one giant bubble. Low interest rates (cheap money) has been the compressed-air, but reality is going to be the pin that pops it. At this point there’s no way out. It’s a mathematical certainty that it’s going to blow apart.
I’m going beyond the point of this article… I don’t want to argue the causes of if, why or when this is going to pop. I know that some of you don’t believe that it will. Rather, lets talk about what it will be like AFTER. What will the Greatest Depression be like? If you’re a skeptic with the opinion that it’s not going to happen, that’s okay. I’m not trying to convince you. But maybe you would like to join in the hypothetical discussion anyway regarding what it might be like “if” a Greatest Depression actually hits during these modern times.
The Greatest Depression | How Does That Look?
It won’t look like the Great Depression of the 1930’s. No. Instead it’s going to be worse. First and foremost, the people and their way of life was quite different back then. Moral character was much higher. Many were farmers to one extent or another. A much higher percentage were self reliant. Family units were intact. Citizens did not hate their own country. Most people could ‘work’ with their hands. They had more practical skills. We made things back then. We were not reliant on imports as we are today.
I’m certain that most of you understand the major differences between then and now, and how those differences are going to make it much worse this time around.
Job & Income Loss
When it crashes, will the company you work for be able to stay in business? The people who are in sectors which are not closely tied to the necessities of daily living, will be hurt the most. Businesses will go out of business. Other businesses will trim, cut, and lay off workers in order to survive. When currency becomes worth less and income is not keeping up with its devaluation, consumers afford less, buy less. When there’s none to be had, consumers buy nothing. A chain reaction takes place all the way from local to global. When this gigantic historic bubble bursts, it’s not going to be a recession. The effects will devastate or eliminate people’s disposable income. Game over. Greatest Depression.
Government (non)Assistance
The government will have great difficulty keeping the masses from revolt. Why? Because they won’t be able to just give more (worth less) money handouts to so many people with the same effectiveness. When they start doing that, it’s going to go hyper-inflation. The tipping point for chaos and revolt is when a tipping point of people are without jobs, desperate and hungry. And that’s what’s going to happen.
Surviving on Less
The initial shock is going to be extreme for those who have had it all, but having been participating in the (fake) bubble. Most people who believe they’re living large, are actually living on debt. Those people will be stunned into a new reality. And it’s not going to be pretty.
