In this episode I present some ideas on what I think the decline of the United States will look like.
As the federal government actually runs out of money more and more people will find themselves without jobs. There will be no “safety net” to save them. As more and more people have no source of income they will go into debt and more business will have to reduce spending.
Reducing spending will mean reducing jobs. More people without income. Eventually the banks will fail as they aren’t getting paid for all the debt they hold. This time there will be no Bush/Obama bailouts to save them.
Will the market be able to adjust to these changes? I think it will all depend on how quickly the decline happens. I think the decline will be gradual.
In this related video Captain Capitalism talks about how the decline looks like an improvement from the perspective of immigrants.
And in this video the Captain explains why Gen X might collect social security. I don’t think I’ll be getting any social security money – but if it’s there I’m going to take it. Fuck the children. I will happily dump my tax burden on your kids.
As for the coming decline (which you can enjoy if you buy Cappy Cap’s book “Enjoy The Decline”) it might be fast. It might be slow. Regardless it is coming. All empires decline. History and math don’t care about your feelings.