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Doom! Impending catastrophic collapse of the US economy

 
Shaun Kaven
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User ID: 71498518
Colombia
03/23/2020 05:49 AM

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Doom! Impending catastrophic collapse of the US economy
Donald Trump’s good pal Thomas Barrack wrote a fascinating and detailed piece on Medium today which warns of an impending collapse of the US economy. It’s a strikingly candid piece in which he says what is coming will “dwarf the Great Depression”.

Ladies and gentlemen, if you want doom, here it is, on a silver platter.

[link to link.medium.com (secure)]

There’s a cliff notes version in Yahoo! Finance though it has media bias, I strongly recommend that you read the medium article itself.

[link to finance.yahoo.com (secure)]

It’s not complicated. Here is a snippet:

“ American businesses are unable to access dollars and liquidity, consequently they are unable to fund employee wages and worker benefits, cover day-to-day operating expenses, support increasing borrowing costs, and make capital expenditures benefiting the American economy. As revenues fall further, layoffs will accelerate, consumption will evaporate, and almost every American will be financially challenged to a degree not experienced since the Great Depression.”
“A government big enough to give you everything you want is strong enough to take everything that you have”, Thomas Jefferson
Shaun Kaven  (OP)

User ID: 71498518
Colombia
03/23/2020 05:54 AM

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Re: Doom! Impending catastrophic collapse of the US economy
More:

“Depressed revenues will increasingly depress, and when combined with hiccups in the credit markets, borrowing costs will continue to skyrocket, further compounding the inability of businesses to support jobs. Without jobs, Americans will be unable to make payments on their mortgages, rent, credit cards, and automobiles; to acquire goods and services; and, to spend money at restaurants and coffee shops and in support of the gig economy. If not immediately addressed, this cycle cascades into chaos. The unemployment lines have elongated, and on April 1st, the length of these lines will explode.“

And my favorite:

“Across the entire real estate ecosystem including construction, retail, healthcare, leisure and hospitality, and real estate services there are almost 63 million jobs at stake. This real estate ecosystem represents ~$7.1 trillion of GDP, out of $20.3 trillion total US GDP.

The economic impact, magnified by widespread total industry shutdowns throughout the American economy, could be exponentially worse than the economic effects of the 1987 crash, September 11th attacks and 2008 recession, combined. The long-term impact on the economy will be catastrophic.”
“A government big enough to give you everything you want is strong enough to take everything that you have”, Thomas Jefferson
Shaun Kaven  (OP)

User ID: 71498518
Colombia
03/23/2020 06:00 AM

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Re: Doom! Impending catastrophic collapse of the US economy
Read this paragraph one more time just to make sure you get it. Bold is mine.

The economic impact, magnified by widespread total industry shutdowns throughout the American economy, could be exponentially worse than the economic effects of the 1987 crash, September 11th attacks and 2008 recession, combined. The long-term impact on the economy will be catastrophic.”
 Quoting: Shaun Kaven


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“A government big enough to give you everything you want is strong enough to take everything that you have”, Thomas Jefferson
Head2Bunker

User ID: 77394391
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03/23/2020 06:17 AM

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Re: Doom! Impending catastrophic collapse of the US economy
bump
Shaun Kaven  (OP)

User ID: 71498518
Colombia
03/23/2020 12:36 PM

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Re: Doom! Impending catastrophic collapse of the US economy
bump

Now we know why Trump wants to get everyone back to work.
“A government big enough to give you everything you want is strong enough to take everything that you have”, Thomas Jefferson





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