Its the Economy Stupid.....
September 28, 2011 2:58 AM   Subscribe

Economy: Help me with scenario planning: Similar questions have been asked before like this one but my question is more general and this was over a year ago which is a long time these days. Main question: If the 'West' ended up in a deflation/depression what would it look like on a day to day basis? Basic things like food, transport, healthcare, jobs, education? What will Britain look like? Post war? Like Japan? A hybrid. Which professions did well, what skills were good to earn an income?

Side question: Economic crash will have consequences. What do you think these consequences be? What is the probability of deflation, stagflation, hyperinflation in your mind?

It is a big ask but I would love the views of the hive mind to stimulate my thinking.....
posted by london302 to Work & Money (1 answer total)

This post was deleted for the following reason: This is really way too broadly hypothetical for askme; if you've got something more narrow and concretely addressable than "predict the global future, in detail", maybe rework your question along those lines and ask again next week. -- cortex

 
Well, if anyone could know this, they would be very wealthy.

Bankers and traders will continue to get more wealthy. It's likely that incomes would freeze for years and layoffs might happen, but not too likely. Most companies are pretty trim as it is right now and likely would not massively eject employees.

Companies are also sitting on huge reserves of cash. While that in itself doesn't stimulate the economy, as they need demand to pick up in order to sell their products, it does mean they can weather a worsening crisis.

The US economy still produces nearly ~$1.2 trillion a month. Even in this recession, that's considerable. The west will be fine. This is a crisis of inaction at this point. While the banks could be doing more and do still have to deal with millions of overvalued mortgages on their books, the lack of a committed effort by the US government especially to resolve this crisis is slowing the recovery.
posted by glaucon at 3:55 AM on September 28, 2011


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