ELI5: Wtf is up with the US economy and what is the “second depression” that’s apparently coming that everyone is talking about? I’m so fucking lost
ELI5: Wtf is up with the US economy and what is the “second depression” that’s apparently coming that everyone is talking about? I’m so fucking lost
Comments
You’re listening to people who don’t know what they’re talking about. Listen to sensible people.
The First depression was in teh 1920s where poor economic policy caused global poverty and unemployment at very high rates, largely caused by tariffs and a major drop in the stock market introduced in the american congress under the Smoot-Hawley Tariff Act.
The last few weeks has been almost a carbon copy repeat of what happened in teh 1920s to trigger the first depression, right down to the excessive tarriffs and market instability in Wall street, which is why they are calling it the second.