this post was submitted on 16 Jul 2024
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Assuming the finance a pizza bit is true, it's a sign that the American economy is on the brink of a deflationary spiral. Debt is being created, but at some point, it will not be paid back in sufficient amounts, and then the capital to create more debt will dry up, resulting in the amount of money in the economy drying up as well. Businesses will be forced to lower prices and scale back operations, which will result in rising unemployment. Which in turn will result in even less money in the economy, perpetuating the circle.
at this point an economic crash seems like the only possible future, but I'm not sure if it would be good for your average person or if the top 1% would take advantage of it to get even richer
I think if you reflect a little, you know the answer really. Take a look at what happened during the pandemic
Although the 1% is really the 0.1%. So it's much, much worse.