I think we are on uncharted territory. All the past crashes occurred when more of us were employed in useful and necessary jobs. Now ag and mfg are smaller and big big part of employment has been in “fripperies”, which is why i say we are on the “frippery slope.”
I am not sure doing nothing will work, because I do not know what new jobs it is we are going to do. Retailing and paper pushing requires demand, which currently isn’t available. And yes, I think this crash is going to be the biggest one ever.
parsy, who is hoarding food
We’ve already seen government involvement and interference always makes things worse. What we’re seeing now is that I believe the current regime is DELIBERATELY causing the economic situation to occur. It’s always been the model of the Communist that you have to destroy first before imposing the new matrix. You have some Marxist/Stalinist members of Congress already calling for the ownership or nationalization of industries. This is frightening. Complete economic collapse of industry by industry will give them the opening to do just that.
This is exactly the kind of thinking that makes me want to pull my hair out. Who the @*$& are you to decide whether someone's job is "useful" and "necessary"? Where does this urge to sit in judgment of people's economic activity come from? Why do you think the government can do a better job of managing people's business than those people can?
Obviously if someone is able to make a living at a non-criminal job, their work is useful enough that someone's willing to pay them. Why is your judgment of that job's worth more legitimate than the judgment of the person who's spending their own money on it?