That was 2 years ago, and nothing happened. I imagine the same is going to happen this time. As much as people want to talk about the economy crashing, I don't think it'll happen in the spectacular, over the top manner, everyone thinks it will.
I don't even think it'll be a purely economic crash. I honestly think it'll be a crash based on governmental instability because of the constitutional crisis that will ensue once the election decertification starts, the audits take off across the country, and our government is proven to be illegitimate on every level. When that happens, our national debt will probably be frozen by the military since congress is incapacitated.
Honestly, we're in such wild, out there, territory that I don't think anyone knows what's going to happen.
One of the major oopsies from the economic collapse will be the CMBS (commercial mortgage backed securities) that will default. MBS (mortgage backed securities) were the cause of the 2008 crash. This time, it’s bigger, more $$$$ is involved, investors and institutions are all over leveraged, add inflation, add unemployment, add millions of mortgage defaults from the mortgage moratorium ending yesterday, etc etc, and you get an economic apocalypse.
Maybe if these were all individual events we could mitigate the losses as time went on, however, these are all about to drop at the same time, and it’s not looking like the USGOV will bail out dozens of major banks and institutions like 2008.
2008, they applied a bandaid, fucked the working class over, and the guilty went unpunished. Could something like that happen again? Maybe, but the cost would be astronomical, and stupid. No point in kicking the can any further. The scapegoats are there, (Bidan, Powell, Yellen, banks, Hedgefunds) and I think it’s time we cut the losses and let a natural economy flourish from the ashes.
If that debt ceiling isn’t raised, which it’s looking like it’s not, then they can’t bail out anyone anyways.
And I would see Congress as hopelessly gridlocked during the coming crisis. Especially if certain audits come to fruition at exactly the right moment. They would have no legs to stand on as even their legitimacy to pass a bailout would come into question as the election was fraudulent and will be shown to be unequivocally so.
So if Congress can’t act, and others are constrained to act then house if cards comes down.
Oh and
Hedgies r fuk’d
Agreed. Congress doesn’t exactly have the knowledge to deal with shit like this unfortunately. This is a mess that’ll take decades to undo. Best solution in my opinion is to let the people do what people do, and rebuild naturally. Organic growth instead of mass-produced profits for the sake of profit.
Watching a Congressional hearing about a topic you have even rudimentary knowledge of is one of the most frustrating and eye-opening experiences possible to man.
The solution is to default in the debt, tell the Fed to fuck off, and start printing our own money - contrary to fear porn, we will make it through to fallout and be better off. See: Iceland
I don't think this is the first time this has happened. Granted it's a forbes article, but here.
https://www.forbes.com/sites/teresaghilarducci/2019/04/25/the-u-s-debt-ceiling-expired-on-march-1-and-nobody-cared-but-they-will/?sh=71b0df8a6b3f
That was 2 years ago, and nothing happened. I imagine the same is going to happen this time. As much as people want to talk about the economy crashing, I don't think it'll happen in the spectacular, over the top manner, everyone thinks it will.
I don't even think it'll be a purely economic crash. I honestly think it'll be a crash based on governmental instability because of the constitutional crisis that will ensue once the election decertification starts, the audits take off across the country, and our government is proven to be illegitimate on every level. When that happens, our national debt will probably be frozen by the military since congress is incapacitated.
Honestly, we're in such wild, out there, territory that I don't think anyone knows what's going to happen.
This ☝🏼
That 👉
The other 👈
One of the major oopsies from the economic collapse will be the CMBS (commercial mortgage backed securities) that will default. MBS (mortgage backed securities) were the cause of the 2008 crash. This time, it’s bigger, more $$$$ is involved, investors and institutions are all over leveraged, add inflation, add unemployment, add millions of mortgage defaults from the mortgage moratorium ending yesterday, etc etc, and you get an economic apocalypse. Maybe if these were all individual events we could mitigate the losses as time went on, however, these are all about to drop at the same time, and it’s not looking like the USGOV will bail out dozens of major banks and institutions like 2008. 2008, they applied a bandaid, fucked the working class over, and the guilty went unpunished. Could something like that happen again? Maybe, but the cost would be astronomical, and stupid. No point in kicking the can any further. The scapegoats are there, (Bidan, Powell, Yellen, banks, Hedgefunds) and I think it’s time we cut the losses and let a natural economy flourish from the ashes. If that debt ceiling isn’t raised, which it’s looking like it’s not, then they can’t bail out anyone anyways.
House of cards...
And I would see Congress as hopelessly gridlocked during the coming crisis. Especially if certain audits come to fruition at exactly the right moment. They would have no legs to stand on as even their legitimacy to pass a bailout would come into question as the election was fraudulent and will be shown to be unequivocally so.
So if Congress can’t act, and others are constrained to act then house if cards comes down. Oh and Hedgies r fuk’d
Agreed. Congress doesn’t exactly have the knowledge to deal with shit like this unfortunately. This is a mess that’ll take decades to undo. Best solution in my opinion is to let the people do what people do, and rebuild naturally. Organic growth instead of mass-produced profits for the sake of profit.
Watching a Congressional hearing about a topic you have even rudimentary knowledge of is one of the most frustrating and eye-opening experiences possible to man.
Yup yup auto it has it right
Atobitt is the man!!
The solution is to default in the debt, tell the Fed to fuck off, and start printing our own money - contrary to fear porn, we will make it through to fallout and be better off. See: Iceland
Don't need to "print" anything.
Gold and silver exist. And a variety of blockchain projects facilitate instant transfer over distance.
What u said