Another even Greater Depression

[cuban_assassin]

Been reading lots of posts here about the government spending in Canada and US to help prop up the economy. Personally I do not think anything can be done to prevent an absolute collapse of the global economy. I think this collapse is going to make the Great Depression look like a minor economic speed bump. When the money runs out and the stores get empty look out! I hate to say it but there will be far more deaths from the economic fallout and violence than this virus will cause. Hopelessness and hunger will turn an honest man into a criminal.

[Robertbarlage]

Just what socialist s wanted to happen!

[ajl]

I agree with you in that is where this is going except one area: store shelves will be full with no buyers in sight. Once the hoarding stops the shelves fill up but with no income the buyers don't show up. This is why government has printed money and reduced interest rates the past decade: to prop up demand which keeps people working and tax revenue coming in. Both of those just stopped. Since there is so much debt around people can get started on the inevitable deleveraging now which will cause demand to come back slowly.

[Austrian Economics]

Manitoba is already pleading with Ottawa for an emergency line of credit. They are basically admitting to bankruptcy at this point. Why not go out and get the money in the capital markets instead? I imagine they tried it and could not find a private investor willing to lend or else at a very high rate of interest.

There is also talk of the Bank of Canada directly buying provincial government debt. As far as I am concerned, if your creditor is the central bank, you are insolvent.

As a result of the shuttering of thousands of retail businesses, provincial tax revenue collections must be falling off a cliff.

[SASKFARMER]

I think the bigger problem is this was created in China and the politically correct can hide and cry but a fact is a fact it started in China. They don't care if they kill their own. Its communists. But they do love buying North American and world companies at pennies on the dollar or cheap farms or railways etc. When the shit hits the fan they will own us all.

[farmaholic]

It's no longer a single small dose that is needed....



The whole prescription taken at one time is required.

If the required medicine would have been taken early, recovery may not have been as painful
Now the patient is on life support.

Ironically they're treating the patient with the same medicine that got it to where it is today in the first place.

They're treating the meth addict with more meth.....good luck. What was the option.... almost unprecedented circumstances.

Covid-19 will be the straw that broke the camel's back. Economically, I don't think this is going to end well.

[Misterjade9]

My dad, always told me the story about his grandad, who always said "someday everyone will be known by a number and the yellow man will rule the world." Take it for what it's worth.

Shelves will be emptied even if there is no income to buy, people will just take what they want, you see how people act over toilet paper, imagine if that was bread.

[Birddog]

This is the same stuff you guys were saying in 2008! The U.S. will never recover! A third world country! They're doomed! Is this worse? Yes, it has the potential to be a lot worse. However, there is always recovery. Take a break from the negativity and go outside. Then come back in and start looking for opportunities. This is a once in a lifetime event, until next time.

[farmaholic]

........Then come back in and start looking for opportunities. This is a once in a lifetime event, until next time.

I guess that depends on how much "time" you have.

[jazz]

I guess that depends on how much "time" you have.

Its a great depression on the scale that people are much less independent that they were in the 30s. So much of the population was rural and even if your land was a dustbowl you could eke out survival.

Anyone 55-60 or so who loses a job right now is going to be fd in retirement.

[Braveheart]

The cabal of one percenters will never allow the kind of economic breakdown doom and gloomers are predicting. Very simply, it threatens their survival. Food shortages especially won't materialize in the first world. Empty bellies cause riots. Ain't gonna happen.

[15444]

The cabal of one percenters will never allow the kind of economic breakdown doom and gloomers are predicting. Very simply, it threatens their survival. Food shortages especially won't materialize in the first world. Empty bellies cause riots. Ain't gonna happen.

Bet we see it in developing countries though. That would be enough to get WW3 going. And in developed countries, all it takes is for food to be too expensive for the poorest. They will snap pretty quick.

[Guest]

I was climbing bins yesterday ,checking them all, all alone , and thinking ......
on top of highest bin on the farm , looking out all four directions, at next to nothing , and thinking how lucky we are to be living where we are , and doing what we are doing !
could easily survive here with next to nothing , and wide open spaces have never looked better

[cuban_assassin]

Interesting you should mention the Cabal Braveheart. If I’m not mistaken they are the ones that want a one world government, digital currency and depopulation. This whole situation is gonna play right into their hands. Makes a guy wonder if these characters are behind this whole thing.

[sumdumguy]

Case, we had a bachelor neighbour who climbed to the top of his bin, and yep the ladder fell down. He sat up there for a day or so until some one noticed him up there. It’s is pretty desolate between Sedley and Milestone.