- #1
wasteofo2
- 478
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Should a second "Great Depression" come, what will happen?
Let's take a somewhat pessimistic view of how things are going (or realistic, depending on your disposition), and suppose that America in the next 5-15 years experiences a second "Great Depression."
Let's suppose that even a few of these things come to pass:
- China has taken our manufacturing base from us.
- India has taken our engineering/computer base from us.
- The real-estate bubble has popped.
- Foreign currencies continue to rise against the dollar.
- The Federal defecit continues to rise and becomes insurmountable
- Foreigners begin cashing in their treasury bonds.
- The American Stock Market crashes as people want out of everything relating to the dollar.
- Social Security, Medicare, Medicaid, and all other such programs go broke due to the Federal Government not being able to make enough revenue and more people become eligable for said programs.
- Individual households habitually use their credit cards to get themselves into their own personal insurmountable debt.
- Houses are foreclosed upon, and people evicted, as people cannot meet their mortgage payments.
- Military commitments overseas continue to drain our Federal budget.
How would America react to a situation like the Great Depression in the 21st Century? Would we see another FDR like character to come in with crusading governmnet programs to fix it all? Would it lead to WWIII, and possibly get us out by revitalizing our manufacturing potential (assuming we win)? Could a free-trader possibly be elected President and do away with FDR's social safety net to make America more competitive again? Would America erupt into chaos, not to settle down in any predictable manner?
Let's see some interesting narratives...
Let's take a somewhat pessimistic view of how things are going (or realistic, depending on your disposition), and suppose that America in the next 5-15 years experiences a second "Great Depression."
Let's suppose that even a few of these things come to pass:
- China has taken our manufacturing base from us.
- India has taken our engineering/computer base from us.
- The real-estate bubble has popped.
- Foreign currencies continue to rise against the dollar.
- The Federal defecit continues to rise and becomes insurmountable
- Foreigners begin cashing in their treasury bonds.
- The American Stock Market crashes as people want out of everything relating to the dollar.
- Social Security, Medicare, Medicaid, and all other such programs go broke due to the Federal Government not being able to make enough revenue and more people become eligable for said programs.
- Individual households habitually use their credit cards to get themselves into their own personal insurmountable debt.
- Houses are foreclosed upon, and people evicted, as people cannot meet their mortgage payments.
- Military commitments overseas continue to drain our Federal budget.
How would America react to a situation like the Great Depression in the 21st Century? Would we see another FDR like character to come in with crusading governmnet programs to fix it all? Would it lead to WWIII, and possibly get us out by revitalizing our manufacturing potential (assuming we win)? Could a free-trader possibly be elected President and do away with FDR's social safety net to make America more competitive again? Would America erupt into chaos, not to settle down in any predictable manner?
Let's see some interesting narratives...