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Old 06-17-2020 | 03:06 AM
  #1300  
Tom Bradys Cat
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Originally Posted by runinonfumes
First: there has never been, in the history of mankind at least, a full 120 days of almost zero production of goods and services from every corner of the industrialized and connected globe. That little nugget there has so far reaching and deep cutting ramifications that we won’t truly be able to comprehend the magnitude of the loss till sometime around Nov-Dec. just try to think of how wealth is made and spent...not on wall street, but on the labor of humans. that’s how wealth is created, by people making things or doing something for someone else. That’s it ...now stop that Machine....ok we did...time passed with no wealth created. We can’t get back that time.
What you have written is totally logical and correct......of it wer 2007 however. The economy isnt what it used to be.

They will print, velocity will go up as will debt, and the slump wont be as bad. Itll be plastered over to a large extent. What of peoples long term spending habits is another story though.

Go check out modern monetary theory.
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