Would someone detail what a crashed economy means in practical terms?

[dickthegrouch]

If we need to try to protect against one , we need to know the symptoms or effects.

I know depressed stock prices cause retirement funds to sink in value, causing less spending and a vicious cycle. The same thing for a lot of minimally paid workers.

But aren’t a lot of people confusing economy and spending, where I really think they mean spending?

Thanks for any education you can provide.

[Codifer]

1. Also.

because I have no clue, how in the hell will this cotton candy bitcoin silliness come into play. I know it will make trumsk obscenely rich but there is nothing behind (so far). My savings (such as they are) are in a bank and are listed as "dollars".... not fairy tale magic beans.

[Sneederbunk]

2. Hard to explain, but you'll know it when you experience it.

[Blue Full Moon]

3. Great Depression part 2

If Elon does what he is planning it is coming soon. All the crypto currency is based on the stock market. Since it's on the web it's very easily stolen and their is no guarantee. He wants to replace our currency with crypto. The republicans have been steadily removing all the protections put in place to keep the depression from happening again. They even removed the protections put in place after the financial emergency that occurred in the late 1800s. At worst will be like the Great Depression or maybe the Financial melt down of the 1990s. Other countries fixed some of the issues from that. I'm pretty sure that wasn't done here. We bailed out companies and screwed over the American people. That's why trump wants to get rid of the FDIC.

[dickthegrouch]

4. But if all their money is in the stock market

Don’t they screw themselves over at the same time? Especially if those cloud in the sky pseudo coins are somehow tied to the market?
Didn’t most of the rich suffer in 1929 too?

[Blue Full Moon]

5. They don't read or know history

Unless there is another angle. I had posted a Forbes article about it. I have tried to find it on the web but I think that it has been scrubbed.

[Frasier Balzov]

6. Your asset accounts are empty and your credit accounts are locked.

This is as likely to result from foreign hacking as it is from anything Trump does.

[TomSlick]

7. I expect the first symptom to be massive inflation.

Followed by higher interest rates, trying to combat inflation. If the cycle goes far enough, a recession - at least.

[Blue Full Moon]

9. Predict hyperinflation like what Germany had in 1930s

[TomSlick]

11. Entirely possible.

At which point the leopards will eat all our faces

[Blue Full Moon]

8. This article has some info

https://www.marketwatch.com/story/kaboom-elon-musk-predicts-hardship-economic-turmoil-and-a-stock-market-crash-if-trump-wins-20483008

[bluestarone]

10. I'm not sure but you can bet

pUTIN is watching close.

[Mysterian]

12. Eating rice flavored with salt and margarine for months on end

Occasionally some ramen and beans.