If this is worse than the Great Depression...?

[kentuck]

Then, how bad is it?

I heard a couple of financial reporters say that it was worse than the Great Depression, when talking about the huge number of unemployed.

Do they expect all these folks to return to their jobs? We hope that is the case.

However, if they don't, what then?

I think the Democratic Socialists may have to come up with some creative solutions.

[sop]

1. Biden will be another FDR, we need another New Deal.

[SheltieLover]

2. This!👆

[Victor_c3]

4. I sure hope you're right n/t

[unblock]

10. let's not set expectations like that....

first, fdr stole much thunder when it comes to safety net.

second, biden will not have anything near the level of congressional and popular support that fdr had.

if we're lucky, we'll barely have control of the senate, whereas democrats had veto-proof majorities in both houses for a chunk of fdr's tenure. it's hard these days to fathom what today's politics would be like if we had that level of support....

[Victor_c3]

3. I don't think we'll see another Great Depression

Both parties have seen how effective direct stimulus can be. Also, even though they have been diluted over the decades, certain safeties are in place now that were never in place during the lead-up and start of the Great Depression.

There will be no run-on-the-banks like there was 90 years ago.

It’ll be a bad, and maybe even a depression, but I don’t think things will rival the Great Depression.

[uponit7771]

13. For the middle class to working class we're already past depression numbers now

[SoonerPride]

15. "This won't be another Great Depression. This will be the GREATEST DEPRESSION!!!"

"That, I can tell you. Bigly!!"

Branded by Agolf Twitler himself.

[TwilightZone]

5. "I think the Democratic Socialists..."

Democratic Socialists haven't proven that they can get anything done, plus there aren't enough of them to actually do anything - the DSA only has about 50k members. I also don't think overthrowing capitalism, as many of them espouse, is the solution.

If you're going to count on someone getting something done, Democrats are the only realistic option, as they always are.

[tinrobot]

6. It will be a depression for some sectors, a boom for others

I think this will cause a fundamental shift towards a new way of working. Fewer offices and more remote for those who work in tech and other types of white collar work.

Online shopping and delivery will be here to stay.

Manufacturing, retail, restaurants, hospitality, etc, will take all a long time to recover. Some areas may never fully rebound.

[beachbumbob]

7. looks like it will be worse, we have a currency devaluation in our future

[LiberalArkie]

8. The US has more people and more wealth now.

[Newest Reality]

9. Could be.

I doubt if it will be said officially though. It also seems to depend on who you are, again.

It has the potential for being a protracted, Greatest Depression. There are so many factors that contribute to that. One could make a list of the systemic issues as potential indicators. Let's not forget that automation is going to increase dramatically in the next decades, which leaves us again with a big employment problem and little in the way of solutions other than an UBI or something along those lines, which is the opposite of the GOP model of wage slavery.

We can only expect more climate change issues and catastrophes to go with our current, major crisis.

Much depends on the decisions made and the governance and distribution of wealth now. Had there been more fat in the system and if there were not so many people living on the edge via exploitation for the last few decades, I do believe we would be weathering all this well and we would be far more resilient. Disaster and Vulture capitalism seem to be geared towards wringing profit even from emergencies.

If we have cascading system failures in this JIT system and you combine that with other problems it looks rather bad. Food and other production is at stake along with the rising unemployment. That's not encouraging and even global famines are possible now.

[HarlanPepper]

11. It's going to be so much worse

I was sizing up my dog the other day as a food source. Think Mad Max, not Grapes of Wrath. An apocalypse on every street corner. We will likely become a barter economy by the end of the summer.

[uponit7771]

12. It took 2 years to get to around 10% UE rate in 1929, we've done this in a month

[GeorgeGist]

14. With Trump as President ...

it's gonna be the GREATEST.