Mastodawn

Almost half of all Americans fear a ‘total economic collapse’ in the next 10 years, new poll shows

Almost half of all Americans fear a ‘total economic collapse’ in the next 10 years, new poll shows - Lemmy.World

Many respondents believe the US economy is already in dire straits, the poll found More than four in 10 Americans believe the country is heading toward a complete economic meltdown within the next decade, according to a new poll. The survey, released by YouGov on Wednesday, shows Americans are more worried about the economy than potential threats to the democratic system or the prospect of civil war. 42% of respondents said it is very or somewhat likely that there will be “a total economic collapse” in the next 10 years, while a smaller share, 38%, described this outcome as unlikely. Financial anxiety ran much higher among Democrats, 53% of whom feared an economic breakdown, compared with just 28% of Republicans.

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moonshadow Mar 19

Today’s empires are tomorrow’s ashes. This too shall pass. A better world is possible.

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UnderpantsWeevil Mar 19

Today’s empires are tomorrow’s ashes.

The US goes through recessions roughly every ten years, thanks to credit expansion and contraction. If anything, the next recession has been postponed far longer than expected.

The idea that we’re going to be “ashes” in another ten years… the fucking doomer juice has blasted basic American history out of everyone’s brains. Go back and live through the Great Recession, then talk to me about End Of Empire. Live through 9/11. Countries don’t just stop existing because of a stock market sell-off, ffs.

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baller_w Mar 19

Upvoted and agreed. But I think the US financial collapse has more to do with

short term incentive, where businesses are chasing the next quarter while ignoring the long-term game plan. Also, average CEO “lifespan” is like 3-4 years. So if they can make the company predictable in the short term, then they did a good job and make eye watering amounts of money.
crushing debt that will outrun GDP shortly. After our interest payments on our debt is more than our economy makes, doesn’t that make us insolvent? Genuine question.
the fact that no one has any money saved to weather a storm, let alone retire.

Empires don’t fall suddenly — they transform. Many historians hold that the Roman Empire never truly ended; the eastern half continued unbroken in Constantinople for nearly a thousand years after Rome’s western collapse, finally ending only when the Ottomans took Constantinople in 1453.

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Jännät

If you use tabs like that with lists they’ll turn into code blocks. Just use asterisks without any spaces at the front:

* Short-term incentives — […] * Crushing debt — […] […]

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Short-term incentives — businesses chasing next quarter while ignoring the long game. CEO tenure averages around 7 years, but comp structures reward short-term predictability over long-term health. Make the number go up, cash out, someone else’s problem.
Crushing debt — not “insolvency” in the household sense, since the US prints its own currency, but debt-to-GDP at ~120% and interest payments consuming an increasing share of federal revenue creates real risks: inflation, dollar credibility erosion, and crowding out actual investment.
No savings cushion — ~57% of Americans can’t cover a $1,000 emergency. That’s not a recession risk, that’s a detonator.