The American economy cannot maintain its current state for much longer...

[Yavin4]

without a total and complete collapse. By collapse, I mean cascading defaults which throws our economy into a deflationary death spiral where even people without debt will feel it.

Since the 1980s, our economy has been structured around consumer borrowing and consumption with more and more people living paycheck to paycheck barely keeping up with their payments. Right now, this structure has been rattled by this virus with temporary relief from congress keeping it in place, but now the Republicans want to end any additional relief which will bring about those cascading defaults.

If, as some experts say, that this virus will be around for years, and we will have to continue to social distance, avoid large crowds, and wear masks in public, then we will have to completely re-restructure our economy. We will have to change it from borrowing and consumption to something else entirely.

[Buckeyeblue]

1. It's propped up due to CARES act payment deferrals

But that can only last so long.

So I tend to agree with you.

[uponit7771]

8. +1, S Korea has 4.3% unemployment US has screwed leadership

[Demovictory9]

2. living in an urban area, I see the signs of economic stress all around. Closed theaters and gyms

closed restaurants. college and universities are like ghost towns.

[Baked Potato]

3. I think the problem is we have multiple economies.

Just like without a military draft a lot of Americans could give a shit if we are at war or not, a lot of Americans could give a shit if certain parts of the economy fail.

[Calculating]

4. The stock market seems to think we're fine

Never seen such a disconnect in my life. What the FED has done is monstrous.

[Another Jackalope]

5. We're all spectators at our own funeral.

I used to think that the global collapse of civilization would happen when climate change caused worldwide food shortages. But now I can see that the world's biggest cash crop is actually ... cash. And the collapse didn't need global climate change as a trigger. It just took a teeny-weeny virus and a nation overrun by pinheads.

Welcome aboard The Apocalypse. Everybody gets to ride. Whether they want to or not.
Round and round and round she goes. Where she stops, nobody knows.

[ooky]

6. Hoping with Pelosi's hard work we can stretch it out 6 more months and get our

people in place in time to avoid the crash.

[roamer65]

7. I expect negative interest rates within 6 months.

Also MASSIVE money creation and distribution.

The Federal Reserve will force inflation to happen.