Reply #11: Welcome to DU and we'll be lucky if it's just a deep recession [View All]

[Warpy]

because all the pieces are in place for an actual depression.

When everything is deregulated, the thieves rush in, money concentrates into the hands of the few and the many are forced into debt to survive. Such an economy is inherently unstable and will crash.

The only questions are when, how deeply it will crash, and how long it will take to recover after common sense regulations are reinstituted.

40 years from now, another generation will come along and be all too willing to swallow the same snake oil about deregulation and lowering taxes on the rich that the WWII generation and the young boomers did and the cycle will start all over again.