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Money and Finances
Reply to "How long till the economy collapses?"
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[quote=Anonymous]The following are likely to have snowballing consequences, regardless of how many feds lose jobs: (1) undermining of US dollar, such that other countries invest elsewhere and look for another default currency. Too much talk from this admin about defaulting on debt, deregulating FDIC, making the Fed Reserve no longer independent, and even switching to US Treasury to crypto. (2) loss of markets abroad: boycotts will only grow with US threatening to annex Canada and selling out Ukraine. (3) loss of jobs/spending due to grant cuts to states. Massive loss of jobs in education and research sectors. Those that depend on and benefit from Medicaid (including nurses and nursing homes) also gonna lose big time. I don’t think everything will keep chugging along smoothly and only feds suffering job loss. The cuts are much deeper/wider than that. [/quote]
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