“Effective immediately, the United States Navy, the Finest in the World, will begin the process of BLOCKADING any and all Ships trying to enter, or leave, the Strait of Hormuz,” said Trump
“Effective immediately, the United States Navy, the Finest in the World, will begin the process of BLOCKADING any and all Ships trying to enter, or leave, the Strait of Hormuz,” said Trump
Not op, and as far from an economist as possible. But I think there has never been a situation like this, ever, in the entire human race.
I have no clue what will happen but I deeply feel most will have wrong predictions
I mean, yes and no. Rome didn’t have military bases around the world when it collapsed and Germany didn’t have reserve currency status. But their currency DID become worthless. Stories like people burning money cuz it was cheaper than buying firewood.
I know that it won’t be “exactly the same” but maybe we could glean some valuable insight. Like physical items held value way better than currency. What did people do? Did families all return home and live with their parents/siblings since costs were too high alone?
Having an idea of where things might go or what could happen just makes me feel better about it I guess? Like I know if the dollar collapses no amount of prep will really make it better and society as we know it in the U.S. will not exist for a bit.
The global economy is new, so much has changed
4 generations ago most of the food that people ate grew within 20 miles, now a good chuck of my food is grown on four continents in dozens of countries.
This and every single thing in my house and car has supply lines stretching over a million miles when the travel of every single item, and their materials are added up. Literally, tens of millions of people helped make my items
Banking is literally hundreds or thousands of times more complex than in my grandfather’s time.
And my entire career is based on technology and infrastructure I read only hints about in science fiction books as a kid.
Back in the early XX century - when Germany had hyperinflation and America had the Great Depression - most people still lived in the countryside.
You can weather a lot of shit if you can grow your own food.
Nowadays, at least in the West, most people live in cities and food is something they HAVE to buy and in order to be able to buy food they HAVE to have jobs - most people can’t simple shrink their lives down to a point were they’re pretty much independent of the rest of society, farming their little plot of land and raising some chickens using traditional techniques to just keep on going.
If shit properly hits the fan, I suspect things are going to be way more desperate.
Many of the super wealthy obviously want to create company towns again (I think Musk is already in the process). Child labor laws are being rolled back. Wouldn’t be surprised if stuff like debtor prisons come back. We are in the process of building concentration (and likely labor) camps for the homeless. We have and are building concentration camps for the undocumented. People are openly talking about denaturalization. I think it’s clear where the “elite” want to see things go. Open question is how far we collectively will let them.
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I’m thinking the problem this time around is that countries are far more urbanized and thus fewer people can simply subsist by farming their own little plot of land just for food.
For most people food has to be bought, so they’re dependent not just on the entire structure for producing and selling food keeping on working well enough that food prices don’t go through the roof, but also on still having a job so that they can buy the food (a problem made worse because of how shallow most people’s savings buffers have become).
So whilst I doubt that in terms of Economics “this time is different”, I suspect the impact will be a lot more painful.
civil war is the last thing that will happen.
the lamest docile subservient people on the planet.