Friday, June 26, 2020

2020 Economic Predictions:

2020 Economic Predictions: This Series of Unfortunate Events Guarantees the Epocalypse

The troubles listed here in my 2020 economic predictions are so severe and so likely to get even worse that it’s more difficult to imagine they won’t get worse than to believe they will. Just a few of these misfortunes would be enough to plunge us into an abyss of social and financial catastrophes.

Here are my economic predictions for the remainder of 2020

This list of economic predictions is not hard to come up with. It is, however, the fact that it is so easy to predict these things this year that makes this year’s list so important.

I think most readers will agree with the likelihood of most predictions on this list. The point of the list, then, is to show by the aggregate of calamities that will wash over us how close to certain is a deep economic depression. (Most are problems central banks have zero capacity to resolve.)

This depression is something many people may not perceive until they widen their field of vision to see the full ocean of likely troubles that are nearly certain to pound the entire world in wave after wave for months or even years to come.

(Though I focus on the US, the same economics predictions are likely to apply all over the world with their own variations of local color.)
Many people are living right now in the delusional hope of a V-shaped recoveryfrom the recent Coronacrisis lockdown. The list below shows why that is the most unlikely possibility imaginable.
During this time of economic crisis, most of the predictions listed below are current events that are almost certain to continue as the major trends of 2020 and are likely to even worsen, plunging us into the chaos of a deep economic collapse, worse than 2008:

  • The social unrest of BLM will become even more widespread and intense.
  • Additional social unrest over forced social distancing will reappear around the nation as distancing measures return.
  • Social unrest over corporate bailouts is likely to begin as the Federal Reserve and government stack up mega bailouts for the rich (or as bailouts already given become known) via the insanely rich BlackRock, which has been given a monopoly on administering handouts for which only the wealthiest qualify.
  • Tearing down of monuments and other acts of violence will certainly create backlash against BLM from those who value the monuments or just want the history of both sides preserved. 
  • So, social unrest will beget more social unrest.
  • All the turmoil of a likely-to-be contested election with all the accusations of Russian tampering and other hacking (like what just happened to Trump’s Tulsa rally) will cause even more social unrest.
  • All those social conflicts will negatively impact some local businesses already hurting badly from the COVID-19 lockdown because they will be unable to reopen due to the protests at a time when we cannot afford anything that causes further damage to business.

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