The American economy is facing a complex dilemma – while it’s drowning in debt it also needs to create more debt to avoid deeper damages in the already hurt Main Street economy. In simple terms, it needs at least another 3 trillion in fiscal stimulus to support American families and businesses to survive and prevent unemployment rates and business bankruptcies to continue soaring every week. However, the American debt is so high that it is forecasted to exceed the entire size of the economy and surpass the GDP growth for the next years, which indicates that at this point, the very least we can expect is half a decade in deep recession. That’s why today we decided to scrutinize some recent studies to show you what are the forthcoming troubles in the next chapters of the US economic collapse. So stay with us and don’t forget to hit the like and subscribe button to support our community.
Yesterday, chief economist at Milken Institute, William Lee told CNBC the US needed at least $3 trillion in fiscal stimulus to support its economy, which has been highly affected by the global sanitary crisis, but it has been suffering for a long time before the current outbreak. While Congress and the White House remain in an impasse over what to comprise in the next relief package, the economist affirmed that these $3 trillion should be used to develop programs such as incentivizing businesses to increase remote working capabilities and helping the unemployed find jobs in companies with viable business models.
So far, from the trillions of dollars printed and injected into the economy, most of it ended up on financial markets and were not effectively used in the benefit of the population nor with the intent to keep businesses safe. On the contrary, it has stimulated big businesses to file for bankruptcy, furloughing millions of workers, not to compromise CEOs’ profits, most of which surely knew their companies would be bailed out by the Fed or the markets. The Fed’s lack of planning in asset purchasing and strategics also stimulated such large corporations to lay-off their workers at a record pace so they wouldn’t be responsible to provide for their workers anymore or compromise their wealth during the crisis because the government would be in charge of that.
The government fell into the market’s trap and had to be responsible not only for the workers, by granting stimulus checks, but also for the companies, by “saving” these large corporations, that weren’t broke in the first place, and neglecting aid to small businesses that didn’t employ as many people. Otherwise, workers wouldn’t be reinserted in the job market again and the economy would crash right there. As time passes by, more and more stimulus is required in the financial markets, since CEO’s realized that they can demand whatever they want, because the government has to keep injecting money into the financial markets or face the threat of this designed economic collapse, which will affect the whole population, while the affluent 1% will continue to thrive….

In a nutshell, our entire analysis aimed to prove to you that our leaders are aware of a way out of this crisis but are preferring to take a different turn. They’re not interested in fixing the problem, just band-aiding it for the time being and leaving this massive debt for the future generations to deal with. The economic collapse won’t be a phasis or a chapter in US history. It will be a constant because that’s how the system works. That’s how money is made. Prepare to see taxes raising, prices soaring, little to no effort in governmental policies to keep people from starving, or living in the streets. Millions of jobs won’t ever come back and several companies will never open their doors ever again. It is nauseating but is true. America is doomed, but you’re not. We are not slaves to the system as they want us to believe we are. Choose to know. Choose to act. What are you waiting for?


Epic Economist

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