Quote from 377OHMS:
What would a nuke-bio attack in, say, Chicago do to the rest of the country/world, induce a depression?
In these conditions? Hell yea.
Consumption in the United States would go to shit.
People would run for the hills, white-knuckle every last penny in fear of what might be next.
Not only would consumer confidence be shot, there'd be tens if not hundreds of thousands dead.
IF America got a major war out of it - went from butter to guns, a severe Depression might be averted.
But it would have to be a pretty big war, given that Defense spending is nearing a TRILLION DOLLARS ALREADY, and the economy is dropping pounds in the toilet.
Maybe a 3 or 4 Trillion Dollar War would do it. In that case, China or Russia would be great adversaries.
You know. Short term gain for long term pain - ie WW3.
I kid, but I'm serious.
Yes, absolutely a Depression would result.
See, the FED already shot its load. The bubble saddled everyone with tons of debt and even
IF banks cleared themselves (imagine what would happen to Real Estate, the broader economy and mortgage payments if a few nukes go off!!!), the consumer wouldn't consume. Whose gonna buy big ticket non-essentials with nukes going off?! And whose gonna lend them the money to buy it!? In those conditions?!!?!
It would be devastating. Pre-2006 economy was running at MAXIMUM efficiency. Absolutely no more consumption to be squeezed. Now, the best we can hope for is a peaceful deleveraging and a tranquil period of forced austerity to pay off our crushing debt load.