So with the financial markets in the Global stock market, especially the USA market being pummeled. And the market not responding to any of these emergency measures like banning short selling and this new Paulson plan.... I think we could see our economy completely crash and come to a standstill. People would not be able to borrow money, yet being forced to pay back all debts and loans. Prices would sky rocket as the value of our dollar crashes. People would become homeless and many would lose their savings.
So what will happen to us? I see two scenarios.
- The government will lose control and people will take over their own lives. We will live like the first great depression. People will be less responsive to laws and more of a every man for themselves approach. We will start over from ground zero. Starting a new trade based economy which wil be based on food, technology, gold/silver, US coins as they will still hold value based on their metal content. we will go through a huge initial loss but i think a new base for reformation would be set and we would begin a RAPID economic regrowth once the dust settles.
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I THINK IS MOST LIKELY
- The government strengthens control and essentially eliminates the free market. people become forced to resume going to work. Even if they aren't being paid they will be promised food, gas, and a house to live in which they couldn't afford since the economy is gone. whither the governments buys out the mortgages for heir houses or moves them to a projects style living arrangement in large apartment complexes that can be easily monitored and run like a very low security prison. I believe the more important/wealthy people as judged by the governments ,such as doctors,lawyers, judges, wealthy business people, and media and also people who already have fully paid off their houses an can pay a property tax will be allowed to have less strict living arangements. but the working class will become overly monitored to ensure they are still working. this will basically become a communist style police state. So basically the government will try and keep the blood running through a dead body with hopes it will be revived.
Anyone who inst wealthy or has a very high level of schooling will in turn become a slave of the government. and the will be willing because they will have food and a bed to sleep in.
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I just think this is looking more and more like a reality. Our own government cant sustain the massive spending were currently spitting out, and every bubble is bursting which is just spilling into all the other sectors of the market. Were just tryign everything we can to delay the inevitable. Something is going to happen soon. We cant just keep spending money until our national debt is 100trillion! we are currently just spending money like their is no tomorrow because the government knows there is no tomorrow and that they wont have to pay it back.