The Coming Economic Crash
Mar. 6th, 2020 08:51 am
Dreamed that Ben had died, or abandoned me, or something, and I was wandering around a campus—U.C.?—trying to figure out where I would go next.
“We”—unclear who that “we” was—were supposed to be traveling somewhere, like when “we” were with the circus—so I found Robin and asked him where we were supposed to meet up next.
He ducked his head away from me and said something unintelligible.
“What?”
He repeated it.
“What?”
“Carl,” he said.
“Carl? Where’s Carl?”
But he wouldn’t tell me, and I got pissed off. “Never mind!” I snarled and tromped off, knowing that I would never see him again.
I was supposed to be at that place, but then I thought, “Why bother?” Life would be a very different process now because I was single now, more than that, I was excess, the uninvited third party. No one was tracking me, and no one really cared what I did.
I walked around the campus a bit trying to figure out what I would do next. “This is freedom,” I told myself. “Well. You’ve always said you wanted to be free.”
I got into a vehicle driven by someone I know who’s an irascible old codger. We were driving to the meeting place, but we were going the back way, and the back way dipped down this incredibly steep, steep hill—
And then I awoke.
###
So, the stock market is poised to tumble another 600 points at opening.
The scale of the dip, like I’ve said, is all managed by computerized trading strategies, but the slope of the dip reflects massive disruption of global supply chains.
23,000 is the safe point in my mind. 23,000 ensures that Trump will not be reelected.
If the market falls much below that, then I’m afraid we’re looking at a real economic crisis.
The American government is carrying $23 trillion in debt.
Very little of this was invested in infrastructure or anything tangible. A good chunk of it has gone toward fighting Orwellian-style Forever Wars, which have not made any of us one iota safer.
The more frightening statistic, though, is that American households are carrying $52 trillion in debt.
These households live paycheck to paycheck because an increasingly large proportion of each paycheck goes toward servicing their debt. I don’t know what happens to these households if the whole thing goes bust. When supply chains falter, the demand for products and services goes down.
Of course, it’s not necessarily these households’ fault that they’re carrying all this debt. They simply shopped at the Kool-Aid stand. The cost of purchase debt seems low before you have to start paying it back. Can you say unsustainable? Mister Rogers thought you could!
The Trumpian surge of "prosperity" disincentivized any last remnants of prudent behavior that survived the Obama “recovery.” Just listen to all the chatter about negative Treasury rates: Negative treasury rates essentially mean you pay banks to keep your money there.
You’d be better off keeping your money in your mattress.
And in case you didn’t already realize this, Trump and his minions don’t have a clue how to deal with any of this.
###
In other news—
Finished Season 3 of Babylon Berlin.
Not quite up to Seasons 1 and 2. Not as tightly plotted for one thing, plus egregious Jo Jo Rabbit plot device borrowing.
Still. Worth seeing if only for the art direction, which is beyond fabulous and the acting, which is very, very good.


