Seeing lots of talk about what normalcy will look like now that most of us are several weeks into quarantine

Here's a 1921 cartoon on the "return to normalcy"
Some events before and after:
1900 - gold standard begins
1913 - FED created
1914 - 1918 - WWI
1917 - tax increase
1918 - influenza pandemic
1919 - prohibition begins
"Roaring Twenties"
1920 - woman's suffrage
1921 - tax cuts
1924 - tax cuts
1929 - stock market crash
Some events before and after:1900 - gold standard begins1913 - FED created1914 - 1918 - WWI1917 - tax increase1918 - influenza pandemic1919 - prohibition begins"Roaring Twenties"1920 - woman's suffrage1921 - tax cuts1924 - tax cuts1929 - stock market crash
Some events before and after:1900 - gold standard begins1913 - FED created1914 - 1918 - WWI1917 - tax increase1918 - influenza pandemic1919 - prohibition begins"Roaring Twenties"1920 - woman's suffrage1921 - tax cuts1924 - tax cuts1929 - stock market crash
1929 - 1939 - Great Depression
1933 - FDR 1st term - New Deal
1933 - Hitler rises to power
1933 - prohibition ends
1934 - gold standard ends/tax inc
1935 - Social Security Act
1937 - FDR 2nd term
1938 - Federal Minimum Wage enacted
1939 - 1945 - WWII
1941 - FDR 3rd term
1929 - 1939 - Great Depression 1933 - FDR 1st term - New Deal1933 - Hitler rises to power1933 - prohibition ends1934 - gold standard ends/tax inc1935 - Social Security Act1937 - FDR 2nd term1938 - Federal Minimum Wage enacted1939 - 1945 - WWII1941 - FDR 3rd term
1929 - 1939 - Great Depression 1933 - FDR 1st term - New Deal1933 - Hitler rises to power1933 - prohibition ends1934 - gold standard ends/tax inc1935 - Social Security Act1937 - FDR 2nd term1938 - Federal Minimum Wage enacted1939 - 1945 - WWII1941 - FDR 3rd term
1929 - 1939 - Great Depression 1933 - FDR 1st term - New Deal1933 - Hitler rises to power1933 - prohibition ends1934 - gold standard ends/tax inc1935 - Social Security Act1937 - FDR 2nd term1938 - Federal Minimum Wage enacted1939 - 1945 - WWII1941 - FDR 3rd term
So ya, normal could be a ways away yet, especially because of the inequality pickle we've put ourselves in
So ya, normal could be a ways away yet, especially because of the inequality pickle we've put ourselves in
So ya, normal could be a ways away yet, especially because of the inequality pickle we've put ourselves in
So ya, normal could be a ways away yet, especially because of the inequality pickle we've put ourselves in
So ya, normal could be a ways away yet, especially because of the inequality pickle we've put ourselves in
I wonder what has been going on, hmmm
I wonder what has been going on, hmmm
I wonder what has been going on, hmmm
I wonder what has been going on, hmmm
It's almost as if coronavirus pandemic isn't the cause of the pending recession/depression, but just a catalyst (which will amplify inequality)

I think most people Agree with that argument at this point
It's almost as if coronavirus pandemic isn't the cause of the pending recession/depression, but just a catalyst (which will amplify inequality)I think most people Agree with that argument at this point
It's almost as if coronavirus pandemic isn't the cause of the pending recession/depression, but just a catalyst (which will amplify inequality)I think most people Agree with that argument at this point
It's almost as if coronavirus pandemic isn't the cause of the pending recession/depression, but just a catalyst (which will amplify inequality)I think most people Agree with that argument at this point
He's what's happening on Main Street, and it's just getting started https://twitter.com/ziibiing/status/1248606174519402496
The viral @chamath interview this week put a spotlight on what needs to be done on Wall St

Let the poorly managed companies fail, don't bail them out
The viral @jimcramer pic also highlighted the Wall St and Main St divide

Socialize the Losses, Privatize the Gains
Low-wage jobs have been the hardest hit
Low-wage jobs have been the hardest hit
Low-wage jobs have been the hardest hit
Low-wage jobs have been the hardest hit
Low-wage jobs have been the hardest hit
What policies come next will be the difference a "beautiful deleveraging", as @RayDalio puts it, and catastrophe
It's early, but thus far, policies of the Trump administration and action by the FED hasn't inspired much confidence that this recession won't evolve into a full-blown depression
It's early, but thus far, policies of the Trump administration and action by the FED hasn't inspired much confidence that this recession won't evolve into a full-blown depression
It's early, but thus far, policies of the Trump administration and action by the FED hasn't inspired much confidence that this recession won't evolve into a full-blown depression
It's early, but thus far, policies of the Trump administration and action by the FED hasn't inspired much confidence that this recession won't evolve into a full-blown depression
Interestingly though, many policies deemed impossible or too expensive just months ago, are being deployed/enacted by gov/corps

- inc min wage
- UBI
- Paid sick leave
- Healthcare4all
- student loan forgiveness
- releasing non-violent criminals
- paper ballots
- housing homeless
O btw, this debt thing might be an issue too
O btw, this debt thing might be an issue too
O btw, this debt thing might be an issue too
O btw, this debt thing might be an issue too
O btw, this debt thing might be an issue too
https://twitter.com/LibertyBlitz/status/1099407738440806410?s=20
And let's take a look at student loan debt...
And let's take a look at student loan debt...
And let's take a look at student loan debt...
And let's take a look at student loan debt...
And let's take a look at student loan debt...
Mortgage foreclosure rates had been falling dramatically since '08, but will probably rise again through 2020+
Mortgage foreclosure rates had been falling dramatically since '08, but will probably rise again through 2020+
Mortgage foreclosure rates had been falling dramatically since '08, but will probably rise again through 2020+
Mortgage foreclosure rates had been falling dramatically since '08, but will probably rise again through 2020+
Instead of subprime mortgages popping, this go round we have sub prime auto loans ready to burst
Instead of subprime mortgages popping, this go round we have sub prime auto loans ready to burst
Instead of subprime mortgages popping, this go round we have sub prime auto loans ready to burst
Instead of subprime mortgages popping, this go round we have sub prime auto loans ready to burst
So from my POV what will an economic normal look like?

- infrastructure program ala WPA
- inc tax on the 1%
- let Wall St/big biz fail
- end Corp Welfare
- close inequality gap

Based on history, WWIII is not an impossibility, should economic policies fail globally
Factors that ended The Great Depression appear to still be hotly debated today:

Gov Expansion via New Deal?
WWII?
Monetary Expansion?
Gov Contraction via tax cuts?

Here is some reading on the subject
https://www.nber.org/papers/w3829.pdf

https://www.independent.org/pdf/tir/tir_12_02_02_steindl.pdf

https://fee.org/articles/what-ended-the-great-depression/
https://www.washingtonpost.com/blogs/ezra-klein/post/how-hitler-and-fdr-actually-ended-the-great-depression/2011/08/12/gIQAf3YXNJ_blog.html
https://www.nytimes.com/2011/08/14/business/economy/from-world-war-ii-economic-lessons-for-today.html?scp=2&sq=christina%20romer&st=cse
https://www.hillsdale.edu/educational-outreach/free-market-forum/2006-archive/what-got/

https://www.wsj.com/articles/SB10001424052702304024604575173632046893848
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