Re:Federal Reserve pledges asset purchases with no limit to ...
by cryptica on Monday March 23, 2020 @12:49PM
(#22665840)
>> 1. Lots of businesses would fail, and we would experience another great depression.
We need a great depression. Every depression brings new opportunities.
Have you considered the other side of the story? There are many people who have been locked out of opportunities (especially millennial) and who have been struggling to start or grow their own businesses for a whole decade because they could not compete against corporate monopolies. The failure of these corporations would be a huge opportunity for them.
>> 2. You don't like populism now? The risks of outright fascism (beyond what you could say we already are experiencing) would go up exponentially.
It's better to have fascism officially if that means everyone will be subject to the same rules and same level of hardship.
1. Lots of businesses would fail, and we would experience another great depression. 2. You don't like populism now? The risks of outright fascism (beyond what you could say we already are experiencing) would go up exponentially.
The main problem with the Ron Paul acolytes is they think that society wouldn't have a massive breakdown in the face of an extremely deep depression - it would just be "the smart entrepreneurs would buy up the assets and build something better!" - but they never talk about how they would deal with the breakdown in democracy and basic government systems that would be a likely result.