He goes on to say that as prices continue to go up, the available money to spend is going down... and, over the last hundred years the only time that available money dropped this quickly was right before the great depression of the 1930s.
Suppose this journalist is right...
Suppose in 2024, a depression like the great depression hits the USA...
Are you ready?
Ready for what, you ask?
- Layoffs
- Extremely high prices
- No available money
- People trying to take their money out of banks
And there will be much more to come...
- shortages of food
- shortages of gasoline
- shortages of medicine and medical supplies
- not being able to pay your bills
Of course, his article is predicated on a BIG IF...
If Congress does not stop spending... currently, the Republicans in the House are trying to do just that... but, the only have a 4 person majority. In order to pass bills, they will need support of the Democrats and the Democrats will not help unless concessions are made...
What concessions, you ask?
Spending more money... it does not matter on what... The democrats want to spend because they think spending more money will get them more votes.
The other IF is if unemployment increases...
Then there is the IF of prices continuing to increase...
Americans are currently using their credit cards to pay bills and taking an unprecedented amount of money out of savings... credit card debt now exceeds ONE TRILLION...
What happens if Americans cannot pay those bills?
Who pays that debt?
Do those Americans go bankrupt, or will might they be sent to jail when all their possessions are sold, and they still owe money?
What happens to their children?
DO YOU THINK I AM BEING OVER DRAMATIC???
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