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'Prolonged Recession' Could Be on Horizon as Covid Economic Crisis Leads to State and Local Budget Shortfalls

Originally published at http://www.commondreams.org/news/2020/07/07/prolonged-recession-could-be-horizon-covid-economic-crisis-leads-state-and-local

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We probably wouldn’t notice any difference.

Anyone living on the margins will.

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Could be? I will go out on a limb and say it is all but inevitable. We will be lucky if it is only a recession as opposed to a depression. Covid-19 is the tipping point that accelerated the end game of capitalism.

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“They’ll be cutting education and healthcare.” Well of course, since those are things that actually help people. Bloated police department budgets packed with riot gear, military toys, and arrogance won’t be touched, because TPTB needs to keep we peasants in line.

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Hi ce!ticfire:
OH stop the presses!
Something is MORE rotten than in the state of Denmark__-as HamIet warned.
What about that Mnuchin guy of the Treasury DEPT and aII those weird loans for smaII business. I just read in the I.a TIMES that there are a Iot of rotten parts in those smaII business giveaways…Kanye West companies? Wow, But the worst was the SuItan Of Brunei —worth 20 biIIIon and received a Iot of money for his Beverly HiIIs hoteI— WE THE peopIe and The states-- are so screwed ! : 0

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The question is: will they do anything about them when they literally lose their homes? There are going to be millions of more homeless soon and I doubt most of them will accept this ‘new normal’.

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We are already seeing Great Depression levels of unemployment and I feel that number is just going to increase as people lose their homes and the virus goes more and more out of control. I’ve even heard we might be in for a decades long depression.

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Economic crash started in September,2019.Banks were refusing to lend to each other necessitating the Repo program which has rapidly morphed into the QE Tsunami we are experiencing now.End is nigh

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The very first item is to estimate just how long the C-19 virus will be ultra active and keeping close contact a dangerous activity.

Next is the planning for food production and distribution.

Gee, I am writing like a pinko commie here.

Do everything to keep your house. Let the Audi go. Let the new furniture go off the wish list. Vacation in a tent in the backyard. Get frugal, but without anger or blame.

Goo report here and good writing also by Eion. 3 years is my guess also. Cities, counties and states could not handle the needs during the great depression in the 1930’s - so why do we even think they could now. If republican senate refuses to help families in all 50 states, send them home.

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That’s when the real riots start

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And those riots will be exploited by Trump in an “I-told-you-those-leftist-thugs-were-a-threat” kinda way.

The shootings over the holiday weekend in a year shaping up to be violent.
A government that refuses to support the vulnerable.
Rising unemployment.
The upcoming mobs of the newly homeless.
Unequal pain felt by black and brown communities.
Militarized po-po feeling like nobody loves them.

I’m seeing the mother of all social upheaval powderkegs – and hoping I’m wrong because this country is armed to the teeth, paranoid as hell, and completely polarized – a recipe for disaster.

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It claimed that in order to hold of a recession , the economy needs to be re-opened and measures implemented to control the virus spread have to be rolled back.

Sweden tried this approach. Not only did they have far more deaths per million than many of their neighbors that did in fact go into lock down , but their economy is predicted to enter recession and will see a shrinkage in GDP only moderately less than Countries like Denmark.

It’s going to be Uber hard to pay any mortgage or rent if you ain’t got a job. And the banks and the govt won’t give a shit.

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Thank God this is finally happening, where injustices are finally being addressed. The beginning of the shaking of earth (Hebrews 12:26)

Hebrews 12:26 Whose voice then shook the earth: but now he hath promised, saying, Yet once more I shake not the earth only, but also heaven.

“Prolonged recession”?

That’s both optimistic nonsense and yet another of our Nazi government’s Big Lies.

The real result – unless we are rescued by humanitarian invasion from elsewhere – will be the total socioeconomic collapse and irremediable fragmentation of the United States Empire.

Which – due to the genocidal legacy of Neoliberalism; the terra-forming ecogenocide mandated by whomever (or whatever) our Capitalist masters have sold themselves to; and the murderous Ayn Rand hatefulness of the Moronic Majority – will in all probability inflict a homeland death toll at least in the tens-of-millions and more likely approaching the hundred-millions, including three-fourths (if not more) of the Working Family and non-white populations.

And – as a result of the run-amok hatefulness and violence – the final, all-time Confederate, neo-Confederate, Nazi and ChristoNazi triumph: permanent and total destruction of the federal union.

(Wanna see clues as to how it will most likely fragment? Read Raymond Gastil’s Cultural Regions of the United States, University. of Washington Press: 1974.)

Never mind I know “the afterlife” is but the adult, Big-Lie version of the Santa myth and death is merely the beginning of the nonexistence that forever nullifies the lives of all save the accomplished few. With the sort of doom we’re now unquestionably facing, I am truly thankful I am so old – 80 at the end of last March – which means I can be reasonably reassured of dying long before the now-unavoidable collapse reaches its apocalyptic nadir.

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I’ll go ahead and pray that families can negotiate with the mortgage holders representative. But, 2009 taught us that the private equity firms want to take homes for rentals. Indianapolis had about 27% of house purchases made by these large cash money outfits.

In a monarchy the monarch technically owns everything and everybody. He can change up the rules as needed. In a democracy the citizenry in theory own everything. We don’t own everything because in reality we’re not all that far from being a monarchy. The Senate is well-owned. On November 4 the Senate will still be well-owned - does anybody disagree?

So, the plutocrats own everything, they’ll still own everything in 2024 and we’re about to have a great depression with much hunger and homelessness, and maybe a dust bowl and a half.

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Well it’s good news and bad news for ever so many more people worried about having to live through economic collapse now that the t-word pulled out of WHO.

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I hope it leads to a General Strike.

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