Comment #1

Stack47 — Wed, 13 Jan 2021 17:17:21 GMT

<br />Covid-19 is world wide and almost every country is feeling the economic effect; some much more than others. All that being said, it's very possible this pandemic will create a recession and possibly another depression.

Original Blog Entry: Great Depression was followed by WW2,this pandemic caused unemployment and inflation causing WW3?

NY10 — Wed, 13 Jan 2021 01:07:05 GMT

Unemployment very high,Government revenue in decline,Cases and deaths soaring,inflation can explode,Oil price back to pre pandemic level,Food prices rising by $1 on most things

Whenever in the past these things happened War was followed big wars World War 1 and World War 2

Spanish flu was after world war 1

Close to 20 million or at least 14 million people are in unemployment program in the US right now which is more people than some countries whole population

US running trade deficit of $60 Billion + per month meaning exports are $60 + billion less than imports per month

US gov is running budget deficit of over $100 billion + per month meaning federal gov spending is much more than federal gov revenue every month and gov is printing money to fund the deficit because they aren't being able to borrow that much money every month from domestic or abroad because of keeping interest rates close to 0 and hence no one wants to lend money to the government because no one is that stupid to loan the US gov money for 10 years or 30 years for 1 percent or below 1 percent interest rates

and now the US can't afford even 2 percent interest rate because the US debt is now close to 28 Trillion dollars

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