Rye Catcher
Platinum Member
- Nov 21, 2019
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Premise: The United States Economy is Consumer Driven
Today we are faced with high unemployment which has impacted much of the middle class and nearly all of the working poor. Before the health crisis it had been reported that 50% of these workers live paycheck to paycheck. We can infer that all of their monthly income went to rent or mortgage, food, energy (HVAC & transportation), car payments, credit card payment and insurance.
Given that Restaurants, Hotels, Bars and movie theaters are not in the picture of the paycheck to paycheck families, and even the upper middle classes and the very wealthy don't eat out or vacation these days, these industries have laid off many of these workers too. Thus, when their shelter bills are due and there is not money to pay them, they will be evicted and be forced to live on the streets, or in cars or vans which may not be paid for.
Owners of Apt Building likely have bills to pay and without rents they too maybe forced to default to the bank. Banks will foreclose and housing will devalue and taxes will not be paid to local governments.
I could go one but I believe I painted a picture that we are facing a Depression unless the Federal Government faces reality and takes action. So far we can't even pass a bill in the Senate to provide families with enough money to survive.
What say you? How does one untangle this Gordian Knot.
Today we are faced with high unemployment which has impacted much of the middle class and nearly all of the working poor. Before the health crisis it had been reported that 50% of these workers live paycheck to paycheck. We can infer that all of their monthly income went to rent or mortgage, food, energy (HVAC & transportation), car payments, credit card payment and insurance.
Given that Restaurants, Hotels, Bars and movie theaters are not in the picture of the paycheck to paycheck families, and even the upper middle classes and the very wealthy don't eat out or vacation these days, these industries have laid off many of these workers too. Thus, when their shelter bills are due and there is not money to pay them, they will be evicted and be forced to live on the streets, or in cars or vans which may not be paid for.
Owners of Apt Building likely have bills to pay and without rents they too maybe forced to default to the bank. Banks will foreclose and housing will devalue and taxes will not be paid to local governments.
I could go one but I believe I painted a picture that we are facing a Depression unless the Federal Government faces reality and takes action. So far we can't even pass a bill in the Senate to provide families with enough money to survive.
What say you? How does one untangle this Gordian Knot.