At a very basic level if people get up in the morning and go to work, and continue to want cars and tvs and houses and vacations, it's hard to see the economy really going to hell. We've had many scares over the last 100 years and we keep chugging along with a bump here and there, because people keep going to work and keep buying cars and tvs and houses and vacations. We just went through a global pandemic and are basically fine.
It feels pretty resilient.... unless we make a hard turn into communism, which appears to be a sure fire way to destroy an economy.
However I doubt it will be like the 30s. Back then it was really slow to transmit the information of who needs what stuff, and which firm is looking for people. With modern communications the shock should be less.
This is sociopathic.
> needs to happen to remind wealthy, middle-class, and poor people that fundamental economics cannot be ignored.
Really? Real lives need to be sacrificed to a god of spreadsheets? Do you wish this suffering on your own family as well?
The modern world needs it. We've created ridiculous systems that - wrongly - believe they're beyond specific forces of both human nature and market economics, and I can't wait for the shit to hit the fan and the music to stop. A sharp, harsh, painful, miserable, unbearable correction needs to happen to remind wealthy, middle-class, and poor people that fundamental economics cannot be ignored.
The more painful it is for every group, the better. Trauma is the best teacher.