The simple reality is, we’ve seen that it’s possible to shore up the illusion of an economic “recovery” by pouring stimulus equity into the markets directly, but that doesn’t do shit for the average citizen and taxpayer, or the small-business owner, who makes up—made up—40% of the American real economy. Sooner or later, that real economy catches up to the false economy of the markets, because then liquidity has to come via a tax base that is rapidly disappearing. When enough people are not just unemployed, but also suddenly homeless, the banking system has to take the hits of real estate loan defaults on both private mortgages and commercial real estate mortgages. Ultimately, even with “stimulus” checks, people have to decide whether to spend that money on rent or food, and it’s a lot easier to survive without a roof over your head than it is without food in your belly.
We’ve already watched bread lines and food bank lines grow to frightening sizes over the last year, and there’s no real indication that it’s going to get better. I suspect those will continue to grow. We’re also still seeing hiccups in food distribution chains, with various things.
Quelle: John Mosby
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