The Great Depression broke my great-grandfather. Then it killed him. As we may be approaching the second Great Depression in the United States, are we properly evaluating the causes contributing to the current free fall of the economy? Of course, the novel-coronavirus (nCoV) global pandemic has been the precipitating cause, but I think we may be overlooking an important factor that will quietly continue to get worse even after we’ve come up with an effective treatment for COVID-19. By taking our eye off the ball that is rolling toward our global economy like a 14 pound sphere unleashed on the entire triangle of pins, we will be shocked and awed with what I believe will become the next Great Depression. As the economists scramble with their mitigation advice, the US FED is working on our monetary policy, the US Congress is passing fiscal stimulus, and President Trump, by his own admission, is trying to be “a cheerleader” standing on the sidelines, woefully inadequate and epically incompetent. Maybe he should try a short skirt and some pom- pom’s?
“Those who cannot remember the past are condemned to repeat it.” ~George Santayana