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| Life is not a bowl of cherries. |
Recently, some folks have taken me to task for my negative outlook on the future of the US economy. Indeed, they have referred to my concerns by addressing me as "Mr. Doom and Gloom" 😎. Everyone has an opinion, I base mine on the experience, education, knowledge, and instincts that I have acquired over a lifetime of learning. Others will base their opinions on whichever factors they believe to be of the most importance. The important thing is to remember that everyone is entitled to their own opinion, and if we can have a reasonable and logical discussion on these issues, it is to everyone's benefit. If we can not have an intelligent conversation because we become frustrated or angry, we lose something very important, that aspect of human civilization that makes us civilized. We are not animals, we have the ability to express complex and abstract thoughts, and we should be able to express those thoughts in a civil and polite manner.
The US economy is going to crash in a very bad way: unemployment will be staggering, it may reach 30% or more; entire supply chains that supply merchandise to restaurants, hotels, salons, gyms, and retail shops are beginning to crash; major retailers, such as giant department stores Macy's and Ross, are cancelling merchandise orders for the foreseeable future; the government effort to stimulate the economy will have a reverse effect, it will cause an inflationary rise in prices which will negate any benefits it may bring to the working class. At some point there may be a run on banks, a shortage of food, riots, and other assorted activities normally observed in the world's poorest nations, right here in the USA.
Regardless of COVID-19, if we reach 30% unemployment, and people lose thier homes and apartments, if they see their children starving with no food to be found, the US will become Venezuela. We will see mob violence with masses of starving people demanding food. The virus along with the sick and the dead will be quickly forgotten in favor of people's more immediate needs. This is not a prediction of doom and gloom based on some personal bias, this is what happens in every nation when people allow government too much control over their lives and their economy. It has happened before and it will happen again. Life is not a bowl of cherries, it's a bowl of live hand grenades ready to explode, and we should take precautions and prepare for the inevitable.