[rdthree]

Way too early to tell what’s going on but worse than 2008. Everyone is too busy writing bullshit about covid to see the 2nd and 3rd order effects. Italian and Spanish banks have been near insolvent for a good part of a decade they are going to completely blow out. A lot of other Banking institutions will fail as well because levered bets got blown out and we had a 3 or 4 sigma event nobody headges for not to mention lack of payment that will show up on balance sheets 4-6 months from now.

I doubt anyone is going to be super keen on investment in that money loosing miracle startup now money will dry up soon it’s just been so sudden people haven’t really adjusted yet. I don’t think it will be as bad as the depression of 29 though. There is plenty of food available and some limited safety nets will keep people from starving. The gears of forclosure are so slow many will stay in “free” houses for 2-3 years. The real question is jobs, will Americans work the fields? Or Will they just sit on government benefits? Will manufacturing come back? How do we deal with global labor and ecological arbitrage. Honestly I don’t think trump or Biden are going to be capable of addressing these Structural issues so we’re gonna loose 4 more years and risk a second smarter and more dangerous Trump in 2024