America’s Greatest Depression — There’s No Way Out

Bankrupt morally and economically, America enters its Greatest Depression. Unlike its predecessors, this time, there's no way out


Our cherished republic has been reduced to its knees.

Standing 30,000 feet above the rubble and chaos allows one a crystal clear vantage point of what is going on.  It’s not pretty.

America is bankrupt, morally and economically.

Since 1971, the American financial system has been on borrowed time (and money.)  By floating the dollar at Bretton Woods, the American government admitted it could no longer pay for its overstretched empire (which has expanded a fold too great to count since the dawn of the 21st century) nor its welfare state.  No guns and butter, legally.  The American dollar would be backed by nothing — other than the fact that it was the world’s currency.

The recent numbers speak for themselves: America has nearly a quarter of its population out of work.  Half the population cannot afford a $400 emergency.  And there’s no end to this.  No one put it into words better than BuzzFeed economist Tom Gara.

The US economy right now is like a jumbo jet that’s in a steady glide after both its engines flamed out. In about six weeks, it will likely crash into the side of a mountain.

As Americans deal with this collective anxiety and insecurity in the back of their minds, rarely in media circles is it discussed that much of the civil unrest that we see is driven by this very fear.  And the concrete reasons that they’re out of work, they’ll never return to work, they have no money, and there’s nothing better to do but protest in desperation.

It hasn’t gotten worse because there’s still food at the grocery store and the government has provided massive bailout programs.  However, amidst the pandemics and the civil unrest, numerous nations (led by the world’s new superpower, China), have been working tirelessly for the last decade to rid themselves of commitment to the dollar.

If and when this day comes, it will be excruciating for everyday Americans, potentially bringing an end to middle class American life as we know it.  The inflation would be too great for many to support themselves.  The only response would be to attach vast amounts of population to the dole by supplying a Universal Basic Income, if it hasn’t been implemented already.

That too would be a band-aid on a fatal wound.

One would always point to an election: Get out and vote and bring about change.  The bettings odds have sitting President Donald Trump as a fairly strong favorite to get voted out of office according to  His challenger, Democratic nominee Joe Biden, is a -140 favorite to win November’s election.

However, this time it looks to be an uncleanable mess.  Even if Biden represented wholesale changes to the normal way of doing business (he does not), there simply are damned-if-you-do and damned-if-you-don’t options at every turn for those in government and power.

If there were actually be-all means, particularly at the grassroots level, to piece the country back together, divisions are far too great for those to make any meaningful collective sacrifices.

The American experiment is officially in its final days.  And unless you’re a billionaire, what’s coming next ain’t going to be pretty.