Where did that thread go? I was having dinner Friday with a buddy of mine who was in a position to know these type things and he said it got taken down, but i know I saw it Saturday after lunch and now I cannot find it? Can someone add it back, please. That would be awesome.
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My buddy found your buddy after dinner. Then buried them up to their neck in the desert. That sun burns...
This OP troll won’t give up. They post way too much, spamming this site, diluting relevancy. Keeps responding to their own posts to attempt to give credibility.
@cp
The great depression had 25% removed from the labor pool. Minorities up to 50%.
And we know how that faired.
Will you stop feeding the troll, please? He’s been posting the same thing over and over for about a year now.
For those in the nosebleeds...
Personal consumption spending accounts for more than 67.5% of US GDP (Per FRED St. Louis)
That means, if 75% of working Americans are removed from the labor pool, once Unemployment Insurance runs out, that's slightly more than half of US GDP gone (0.75 * 67.5 = 50.625%), completely wiped out.
Then the debt defaults cascade that will make 2008 look like a sorely misguided "what if" tabletop exercise. Mortgages will go unpaid, CC and auto debt will collapse, most banks will become insolvent, and financial market liquidity will be a quaint historical term.
Shareholder value will collapse, the wealthy will lose more than half their net worth due to the money multiplier effect of fractional reserve lending, and the economy will essentially disappear as a puff of smoke. This is because stock prices are based on expected future results (the multiple). Businesses will not be worth anything when 75% of their customer base disappears.
This is assuming the expected legal aspects of making the wealthy pay for everyone who is now penniless don't materialize before this scenario really starts moving. There's no way citizens will not demand a universal basic income, the "lender of last resort" (the Federal Reserve) can't print enough money to fix it, so it'll be congress who will have to legislate a massive redistribution of wealth from the wealthy to the former working class.
So we either get the Star Trek economy, where AI enables everyone and wealth distribution becomes a problem of a bygone era, or we get what Alex Jones spent years warning everyone that the billionaires/Bilderbergs were planning to do.
A buddy of mine at dinner last night thinks you forgot to take your meds
Nevermind I see someone added it back. Thanks.