Stocks dropped as the selling pressures that dragged Wall Street last week persisted, while investors braced for a slew of economic data reports this week.
Notable differences from the last Great Depression:
Many countries have many nuclear weapons.
Something like 6 billion more people exist.
Climate change is accelerating, and this will make food more expensive everywhere, as opposed to a regionalized Dust Bowl, as well as causing more frequent and more severe natural disasters basically everywhere… and the more time passes, the more expensive it will be to mitigate this.
Perhaps also worth noting:
Japan argued the US’s oil embargo on it as functionally a declaration of economic war.
History is replete with examples of embargoes and massive tariffs being considered a justification for escalating a trade war… to an actual war.
Only if we’re on the any%, this is looking like a 100% run so more like ‘Depression’
This is going to be the second Great Depression.
It is going to impact the entire world.
Notable differences from the last Great Depression:
Many countries have many nuclear weapons.
Something like 6 billion more people exist.
Climate change is accelerating, and this will make food more expensive everywhere, as opposed to a regionalized Dust Bowl, as well as causing more frequent and more severe natural disasters basically everywhere… and the more time passes, the more expensive it will be to mitigate this.
Perhaps also worth noting:
Japan argued the US’s oil embargo on it as functionally a declaration of economic war.
History is replete with examples of embargoes and massive tariffs being considered a justification for escalating a trade war… to an actual war.