it will be a mental depression for all of us
It’s the end game of a credit based, as opposed to a savings based, economy. How many Americans are currently living hand to mouth, paycheck to paycheck, with no savings in the bank and holding a lot of credit card debt?Eventually the bill comes due and you can’t pay. Of course, in the case of government they can print money. Doing that is essentially an admission of bankruptcy and that’s what we’re seeing now, not just here but all over the world.The idea that this is capitalism is ridiculous. Central banks have complete control over the most important market price, the price of money.
