Is The Coronavirus Causing The Great Depression 2.0?

In the past two weeks, 10 million Americans have already filed for unemployment. Moody’s is now warning that 30% of all mortages could go into default this year.

And the peak of the coronavirus outbreak in the US still isn’t projected to arrive for several more weeks. How bad will the economic fallout from covid-19 be?

Truly epic. As in possibly “Great Depression 2.0” magnitude. Yes, the clown show in charge of dealing with this mess will likely just make things worse. But the reasons for the dismal economic outlook go far beyond the damage being done right now by the coronavirus.

The global economy was dangerously unstable and unsustainable long before this pandemic started. Covid-19 is simply the trigger to bring the house of cards down. Peak Prosperity has been warning of such an economic breakdown for many years.

Through our Crash Course video series, we’ve laid out exactly what the biggest risks are and why we should have been (and still should be) so concerned.We’ll be surfacing those core deficiencies in upcoming videos, as we are now swiftly moving from the “warning” phase and rushing into the “managing” phase.

Being armed with the information to take appropriate action will become even more important in the days to come.

      
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1 Response to Is The Coronavirus Causing The Great Depression 2.0?

  1. Matt says:

    Definitely a must see video. The part about the e onto if problem being 50 years or so in the making, going back to the elimination of the gold standard is an important thing to know. If, and I think it is a 4th turning, that is going to get corrected. Unfortunately it’s going to happen at warp 9 into a solid wall. The other parts about the build nothing hedge funds, employing jackwagons like Bernanke, getting money shoveled at them to cover their losses on bad bets with the WSJ saying the Fed was correcting unfavorable market conditions is total bull spit. The rules being put on small business (90% of businesses have fewer than 20 employees) are absurd. As Chris says, most of the money is going to those who need it the least and the least is going to those who need it the most.

    Time to start building guillotines because the .1% has a date with the devil.

    Oh, it this is “anti American” ask yourself what America stands for these days.

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