JP's_Canadian_Cider
kiwifarms.net
- Joined
- May 4, 2019
Probably never unless something really catastrophic happens. Our means of production are so high due to technological advances that it would take a world war or massive epidemic to reduce real production enough to warrant comparison to the great depression. While both Brexit and Trumps trade wars will probably just be minor speed bumps, they were about as bad as economical policy goes. It is text book how not to encourage growth, but still we made it out alive. The marked is insanely resilient because production capacity is just so high and versatile.
So, an economical depression is pretty unlikely. A financial crisis on the other hand is always possible as people are morons who vote in morons who make the peoples moronic ideas into policy. If we are hit by some sort of financial crisis and bootstrap-policy at the same time, we could end up in a scenario were production capacity (mainly due to people opting out of labour marked and lack of real investment capital) is reduced for moral reasons. Stuff like "right to work", privatization and fair-competition legislature can be detrimental towards real capital investment. While this threat seems to not be lost on neither the EU nor the yanks, as they have huge state R&D-funding schemes. Hopefully that doesn't change too much.
And, just to clarify something about Brexit and TrumpTrade. While you might argue that it is good in the long run, it is nevertheless bad in the short run. Disrupting trade embargoes, tariffs and similar political movements is (almost) never a good thing for real production. In the same way as a surgery increases your risk for death or chemotherapy is literally betting on your body to die slower than the cancer. The point being that even as disastrous as Brexit and the trade wars were, life went on as normal for most people.
So, an economical depression is pretty unlikely. A financial crisis on the other hand is always possible as people are morons who vote in morons who make the peoples moronic ideas into policy. If we are hit by some sort of financial crisis and bootstrap-policy at the same time, we could end up in a scenario were production capacity (mainly due to people opting out of labour marked and lack of real investment capital) is reduced for moral reasons. Stuff like "right to work", privatization and fair-competition legislature can be detrimental towards real capital investment. While this threat seems to not be lost on neither the EU nor the yanks, as they have huge state R&D-funding schemes. Hopefully that doesn't change too much.
And, just to clarify something about Brexit and TrumpTrade. While you might argue that it is good in the long run, it is nevertheless bad in the short run. Disrupting trade embargoes, tariffs and similar political movements is (almost) never a good thing for real production. In the same way as a surgery increases your risk for death or chemotherapy is literally betting on your body to die slower than the cancer. The point being that even as disastrous as Brexit and the trade wars were, life went on as normal for most people.
