Reply to How long till the economy collapses?

Forum Index » Money and Finances

Reply to "How long till the economy collapses?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][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]

Nailed it.[/quote]

Plus snowballing effects from delayed federal spending- basic things like tax refunds.  IRS is firing all probationary staff today- they are being told they can stay through May to get through filing season.  How many will actually stay?  What if a few thousand people were counting on their refunds in May for a car down payment, etc, etc?  Car dealership slows down, lays off people, etc etc.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics