Yeah a crash is inevitable. Consumer debt is skyrocketing and consumer savings are plummeting while cost of living is dramatically increasing; during an already dodgey economy.

I think it’s the perfect storm for a major recession. I know people have been calling for one since before Covid but these new debt and savings numbers will clash and people won’t service their debt to pay for groceries.

I don’t know if the government has the money for a bailout of this magnitude. Auto debt 1 trillion alone, credit card debt is over a trillion. Like the bailouts were hundreds of billions, collectively 1.7-2t but nothing like the debt bubble that’s about to burst.

I mean maybe just let banking and finance fail. Credit unions didn’t need a bailout bc they didn’t do all the risky stuff bc nobody can own more than one share. So it’s not driven by stock price so they don’t do high risk high reward stuff for short term gain and kick the can down the line.

Let the banks collapse and let credit unions take over. If banking were non profit it’d save us a lot of money in interest but also bailouts.

How can they bail out the individual though? How can one “bail out Main Street” instead of wall Street?

Republicans will howl if the government started laying peoples debt for them. But they’d applaud if more money was spent bailing out the banks.