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Yes, but the US republic seems a lot more brittle and less
Posted on: February 21, 2020 at 23:18:12 CT
JeffB MU
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stable than it used to be. Look how polarized our society has become and how corrupt our politicians are. The news media, FBI & CIA have also been corrupted.
It's not like were quite a banana republic yet, but I could see things spiraling out of control if we had a major economic crash.
Would we get rioting if food stamps and social security were cut off? What if governments couldn't pay their police and fire departments?
In Europe when the great crash hit people were limited to only being able to take out $200 / week from their bank accounts. Many people were in pretty dire straights. Spain and Italy had some pretty bad stories coming out at the time. The US has already stated that "bail-ins" of our banks is an option on the table. If banks become insolvent, depositors may have to absorb some of the loss.
I remember stories of signs on the walls in some hospitals telling people not to be unruly... the doctors and nurses hadn't been paid in a couple of weeks and people needed to be patient.
There were videos of people in Spain going out to protest and counter protest and many were carrying baseball bats and wearing helmets. Some people were committing suicide and prostitution was becoming more common. There were even stories of malaria and other diseases not usually being a problem in 1st world countries showing up in some areas as medical supplies were limited.
It's not like were quite a banana republic yet, but I could see things spiraling out of control if we had a major economic crash.
Would we get rioting if food stamps and social security were cut off? What if governments couldn't pay their police and fire departments?
In Europe when the great crash hit people were limited to only being able to take out $200 / week from their bank accounts. Many people were in pretty dire straights. Spain and Italy had some pretty bad stories coming out at the time. The US has already stated that "bail-ins" of our banks is an option on the table. If banks become insolvent, depositors may have to absorb some of the loss.
I remember stories of signs on the walls in some hospitals telling people not to be unruly... the doctors and nurses hadn't been paid in a couple of weeks and people needed to be patient.
There were videos of people in Spain going out to protest and counter protest and many were carrying baseball bats and wearing helmets. Some people were committing suicide and prostitution was becoming more common. There were even stories of malaria and other diseases not usually being a problem in 1st world countries showing up in some areas as medical supplies were limited.
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Yes, but the US republic seems a lot more brittle and less - JeffB MU - 2/21 23:18:12