Today is the start of the next Great Depression. These things happen regularly once the old generation that remembers the last terrible depression has died off.
The stock market shall have a great week this week. Then…
Many, many government programs will be cut. That’s part of what will precipitate the depression. Unemployment can easily rise to 50%.
The depression will stop, first, when no business as usual can be done. In particular, banks and worse will no longer be physically able to run a foreclose auction on any property, just like in 1934. Further, they will no longer be able to attach the salaries or assets of college student lifetime debtors who have been in default for 30 years running, because half the country will be employing these good people with a poison pill system. Their housing is free but not quite theirs legally, their car is free, The lifetime debtors show up for work and get only $75/week cash but everything else comes out of the private economy. When the lifetime debtors want a new business loan, well, they just start the new business, their community takes the calculated risk with them and decades later these lifetime debtors probably retire pretty well. But they don’t own anything that can be attached by the vampires.
Second, the community has to run its own inherently corruption-resistant elections at a local level. I recommend the Cambridge, Massachusetts city council form of single transferable vote, with the use of 1 million transferable microvotes replacing each 1 transferable vote so the transfer is smooth and then recounts are easy.
So, run a neighborhood election sooner, rather than later. “We the people, in order to form a more perfect union,…”, not you the few un-American crooks.