As we watch the country implode, one thing is clear. The USA’s economy is consumer driven. When consumers have neither the funds nor the desire to spend because of economic reality or fear, the economy doesn’t work. It continues to slowly wind down. Period.
The rich are not going to invest in a downward spiral that is murky as to turnaround times and potential profits. They will sit on their money or move it to greener pastures. Giving the rich more money is not a stimulus. Giving the non-rich fortunate enough to still be working some relief is great but will not be a game changing stimulus. Too many are saddled with home equity losses, shrunken 401k’s, flat wages and daily doses of fear.
Sooner or later this, or some other administration is going to have to launch a true make-work initiative that floods this country with real, fair wages. Anything else, best case, is just an inability to deal with reality. Worst case, it’s theft driven by fear of not having “enough” when the cards start to fall.
Normally decent, good people in government and the private sector are grasping at every financial advantage trying to get “enough” before the music stops. We can’t expect too much from them at this time. They are terrorized.
These times demand great people, heroes even. Such people can be hard to recognize. Adversity will bring them out. We had Martin and Malcolm when it mattered most. Such people still walk in this country.