In this second podcast I managed to speak a bit more articulated. Once you start speaking English again you get the hang of it and its easier.
Here’s the link to the podcast.
The podcast lasts about an hour and Steve does an intro on the subject regarding economy. Then we move to other subjects and some of the questions I received are answered. I’ll be doing a podcast myself once I figure out how to do it answering the rest later, so all of them will get answered.
Regarding the question itself, “how bad will it get”, I think an economic crisis is pretty much unavoidable since USA is already in one right now, the question being if it will reach a full economic collapse of not. Sorry, I wont play prophet and say the dollar will default or not, I will just say its likely enough, very likely according to some very smart, very rich people and therefore it should be considered. If this happens, there’s going to be more unemployment than before, hyperinflation, bank runs, riots and after the first more violent stage passes there’s going to be a new USA to live in. As I said a million times, not the end of the world just somewhat different to what you are used to.
If lucky you’ll still live in that same house, Main Street will still be caller Main Street, kids will still go to the same school, with a bit of luck and hard work you’ll keep your job… but employees may have to accept a 20% reduction in salary so as to save the company. Your kid’s school will have fund cuts and some classes may be canceled, the infrastructure may suffer for lack of maintenance due to low funds. The school quickly looks dirty, clearly needing some paint and repairs. As time goes by Main street is full of holes and no ones patches them. Stuff at walmart is now more expensive. Little by little the packages, cans and bottles start getting smaller (yet the price it higher than before) , you see less and less of those mega super value 50 unit packs. There’s less variety too, they no longer import or produce locally the expensive brands anymore. Too expensive to do so. Crime is getting worse too. Home invasions in towns where it had never happened before, even people getting kidnapped. As more senseless violent crime becomes more common and criminals realize that the poorly paid police, with not enough patrol cars, not enough gas and not enough manpower is just a shadow of what it once was, armed robbery slowly becomes a fact of life across America, and those that don’t want to accept it suffer the consequences.
That’s my idea of how bad it will get if this keep going this route.