Gas prices, property values, all of it will drop. Deflation. Too few dollars chasing too many goods. Massive wealth has evaporated, seemingly
overnight.
Welcome to the Coronavirus Depression. The train has stopped, no one imagined that could happen. A new opportunity for Economics PhD dissertations,
for sure.
At least we have a bit better concept of economic tools than 1930, but it might still be worse due to the unprecedented total shutdown, as small
business will be devastated, making recovery difficult. This is an unprecedented economic shock.
Tremendous wealth inequality in America does not help, and it may possibly get much worse, if foreclosures mount and more of the middle class become a
permanent part of the "renter" class, no longer able to build wealth.
Only the wealthy at that point will be scooping up those assets, dirt cheap. The light at the end of the tunnel could be an oncoming train.
Let's hope not.
John
|
. Only bummer is we are going into lockdown mode down here also
.
