Use it up, Make Do, or Do Without
We have entered a depression that is going to turn our world upside down. Before it ends the general stock market will be down 85-92%, banks will close and governments fall. People still do not realize the impact of the Coronavirus. It will kill tens of millions of people in the world before it fades away. It will change how we physically interact with each other.
The quarantine is going to create a measurable increase in the number of babies born in about nine months. In two weeks or so, the number of divorces filed will skyrocket. Suicides are going to increase a lot, some people not only can’t be alone with others, they can’t even be alone with themselves.
In 1981 I got to fly in an air race from Paris to New York back to Paris with the most incredible pilot I ever flew with. He had an interesting saying that he had picked up as a child growing up in the depression. I heard it a lot, it was like a mantra to him; Use it up, make do or do without.
His name was Tom Danaher. He had been a night fighter pilot at the tail end of WW II. He could fly circles around anyone I ever flew with. He grew up poor during the depression as did most Americans. The depression had a giant impact on his family, indeed with his entire generation. We are about to go through the same.
You cannot have an honest economy without honest money. We went off honest money during the Great Depression. With any luck perhaps we will go back to honest money in this latest and Greatest Depression.
The government and most commentators are lying to you either deliberately or through ignorance. The US is broke, not quite as broke as Australia or China but broke. Before things settle down the stock market will have crashed, the bond market with it, real estate in Canada, the UK and Australia will be twenty five percent of what it is today. Tens of millions of Americans have lost their jobs, many permanently.
But the most corrupt congress in American history has come through for those who bribed them in a $6 trillion giveaway to reward all the fraud and financial mismanagement of the last dozen years.
Perhaps Congress, the airlines, hedge funds, bankrupt corporations and banks should think back to the French Revolution. At the beginning in 1789 France had a population of about 28 million. They had their 1%, the 300,000 in the nobility. By 1793 the nobility was down to 15,000 after many of the aristocrats had taken their final steps onto a platform to have their heads chopped off in front of a cheering crowd.
The $6 trillion is no less than the biggest raid on the US treasury in history. It benefits those who stole, not those who worked.
In a nation of 393 million guns stealing from the masses might be a really bad idea. Who knows what the peasants may come up with next?
Get used to this, use it up, make do or do without. You are going to hear it a lot in the coming years.