Then and Now; The Danger of a Contemporary Depression
If we don’t fix our fiscal disaster quickly, we’re looking at a depression. It’s not likely we will experience a Depression, thanks to our recognition of several warning signs and a shift in government. The difference between today’s collapse and the Great Depression is that the last 8 years was spent, not only creating the conditions for this economic collapse, but also in a seemingly deliberate effort to erode our international relations. While we’re working on getting our country back on track in an economic environment that will require our full attention to heal, we risk sitting-duck status in a world whose varied sentiments for America run a widely negative gamut.
If we do nothing about our economy/infrastructure whilst losing our heretofore failed attempts at international diplomacy, these two problems threaten a more dangerous sum of their parts. I hope we manage a sense of humility in the face of a global schadenfreude that could arise out of the ashes of our collapse.