Many people are losing their jobs. Many people are going on assistance programs. What happens if more people are on assistance then are working? Where does the money come from, and is there a chance the government can run out? Is that when a repeat of the Great Depression happens?Answer Question
That is a really good question. The value of the dollar is dropping more and more. We continue to print money we don't have. Once we hit a deflation. Which means the cost of goods and services will begin to drop. Lack of demand would spiral into more companies maybe laying off or cutting production. More people would perhaps find themselves in need of assistance, and so on... This could spiral into a much worse scenario.
About two-thirds of the U.S. gross domestic product is based on consumer spending. If consumers aren't spending, companies will be laying off. Deflation continues to hurt the US economy and US business. Sorry to be doom and gloom, but that is how I see a weak economy only getting worse...
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