If this happens you can expect the Dow to drop to around 2000.
This would kill the stock market like nothing else.
Take all the capital out of the Economy and give it to government.
This is a take over, have no doubt about it.
The left-wing President in Argentina recently announced a govt. takeover of private pension funds in that country.
It’s a popular idea for leftists — let’s just take over everything.... b/c everyone knows your money is better off in the grubby hands of socialist bureaucrats!!
This measure will in one swoop destroy our banking system for generations. Once the government nationalizes peoples bank accounts no one will be dumb enough to leave money in the bank again.
Americans are already scouting out locations in the back yard to bury the tin can full of cash.