After 4 months of restrictions due to the Coronavirus, it’s hard to say if this economic downturn is the new greater depression.
It seems to depend on what our so-called leaders are going to do in the next 6 months before the November elections.
The left-wing seems determined to Riot, destroy property, and bring down the country. At this point, I don’t think they have enough power to do that because their numbers are not big enough, and the people who will resist in the middle of the country are the ones that are more heavily armed.
but many of the things that happened starting in March maybe something that we can’t recover from.
For one thing, over four months, about 46 million American workers filed for unemployment benefits. among those 46 million American workers, about 14 million of those jobs are never coming back.
Up to now, over 100,000 small medium and large businesses have been shuttered forever. Many of them were teetering on the brink of bankruptcy before the shut down, but never have so many people been put out of work for no reason at one time.
If this were a natural disaster or a war, people would understand. but it’s not.
I really don’t care who is going to cost a problems in this country or who is going to win the next election, I just want to be prepared.
As Americans, it’s amazing how little money we all had when people were ordered to say stay home and self quarantine. most people had about two weeks to one month of income that they could count on. Some have even less.
During this pandemic, even though people were given Financial relief, about 20 million mortgage payments and rent payments were not made in April. this will move up the food chain and affect landlords and businesses and everybody else.
How are businesses going to reopen and have the money to pay their employees when they can’t even pay their rent?
Part of the trouble with this economic downturn is that we are being bombarded with false information. Whether it’s about the economy or the Coronavirus, fake news prevails.
This economic downturn is what’s going to happen anyway due to the intervention in the economy by the government. The coronavirus was merely the pain that burst the bubble.
The best definition of a depression is a time when the majority of the people suffer a significant loss of their standard of living.
That is already happening, and it’s not all about money.
Forcing people to avoid Church, athletic events, or even having a dinner with more than 6 people at the table all contribute to a lower standard of living and much unhappiness.
During a depression, real wealth does not go away. Houses do not collapse when rent or unpaid. Factories are still there even though people cannot buy as much of the goods that are being made.
All that really happens to the wealthy is that the ownership of major assets can change.
My preparation includes getting rid of every item that does not help me in my everyday life. At this point, I must be prepared for any foreseeable contingency. I also have to be prepared to bug out on a moment’s notice.