Again, I used “you” because you said your business.
The problem would be your prices. People with limited money would prioritize. Probably roughly in the order of lodging, food, utilities, transportation, health.
Not everyone will be laid off or have nothing. That has never been the case. In 1933, unemployment was 25%. That meant that the other roughly 75% of people would still have work. Some folks would do something to make ends meet. Even in 2020, some folks sat, some folks worked. Not everyone had the same situation. So all the same, you want to keep your livelihood, you’re going to either work with folks of lesser means and issues paying, or they will do without and you’ll just make less. Very simple.
Your idea of what your livelihood is worth in that situation is potentially different than others’ view on it or reality. You might need to take a 50% pay cut. Or put some of your staff at fewer hours, or take a loan. This is the nature of business, small business especially. Many fail due to different situations.
The government sure would take on debt to continue operations. Heck, it does that every day normally. That’s not the issue per se. The issue is printing trillions in handouts, loans that were never expected to be repaid, money supply nobody could chase, and indebtedness that you or I or our kids and kids kids will need to pay off but will never be able to. Not ok.
And frankly, that’s really what this is all about. Not your business or you. It’s the endless money that isn’t real, sucking things ultimately dry, and for what end? And to what next perturbation that has the potential to be worse than the last. You think you deserve $x/yr compensation and to keep your business. So you also deserve to pay off $y that is your share of the National debt as a result. Will you? Neither will anyone else. So then what? Nobody knows what will happen when debt goes sky high. Devalue the dollar? Do something else? What economic waves and issues will happen? That’s the point.
Go read about The Great Depression - you GREATLY underestimate the TEN year effect it had on the EVERYONE.
1. High Unemployment: The unemployment rate soared to around 25%, leaving millions of people without jobs. Finding employment became extremely challenging, and those who managed to secure jobs often faced reduced wages and long working hours.
2. Poverty and Homelessness: The Depression led to a significant increase in poverty rates. Many families were unable to afford basic necessities such as food, shelter, and clothing. Homelessness became a major issue, with people living in makeshift shantytowns known as "Hoovervilles" or relying on charity and government support. Remember it lasted TEN years? Do YOU have TEN years of savings?
3. Economic Struggles: Banks failed, businesses closed down, and agricultural activity declined. This resulted in a downward spiral of economic activity, with people having little money to spend. The stock market crash of 1929 played a major role in triggering the Depression and caused many individuals to lose their life savings.
4. Dust Bowl: In the Midwestern and Southern regions of the United States, a combination of drought, poor farming practices, and economic challenges created the Dust Bowl. This environmental disaster resulted in severe dust storms, crop failure, and forced many farmers to abandon their land, adding to the hardships faced during this period.
5. Government: Tax revenue dropped off a cliff, government spending increased, and the national debt-to-GDP ratio went from 16% in 1929 to 51% in 1940!!!!!!!! A HUGE increase in debt. Taxes went UP to try and compensate exacerbating everyone's pain.
This sounds better? The answer is it can't possible sound better because the end result was still out of control government spending and increased debt and the only difference compared to now is this lasted TEN years and MOST people suffered the ENTIRE time after losing EVERYTHING.
It's really hard to believe I'm debating someone that depression which increases debt was the better choice than increased debt and avoiding all the hardships. If you had lived through it, you'd probably be singing a different tune. It is a ridiculous position.
ed , let’s try the second edition.
