5) The economic ideas, the Marxist are probably people with the answers of what will happen next. I forgot all my Marxism, so this is just a guess from what Prof. Micheal Hudson writes about all the time. That according to Marx analysis, the debt overwhelms because there is too much of it, and all economic activity hinges upon debt servicing, which is a drag on the economy. The Americans being this indebted, their economy should be slowing down to being low growth. The experience in some European countries the past 2 decades could be the same thing happen.
The 2 trillion dollar US stimulus bill, is just a band-aid. It is not an attempt to solve anything, just not let things get out of control, for societal considerations.
6) Unless we see the US economy kick into gear, and grow at its historical average which is 3% during the long run, personally I would accept that low growth due to too much debt is a permanent feature of the US economy. Remember that President Obama was the only US president in history to never have a year of 3% growth in his term, and he had two terms. President Trump had one year of 3% growth because of the tax cuts, but that would mean 11 years of the last 12 the US economy could not grow at 3% (when other countries growing at 5%).
7) Australia maybe a country of the future, as they have a two track economy they say. The regular economy had been struggling for years. While the Australian economy sectors related to the China trade were doing good (before the trade bashing started).
The point is we may see other nation's economies go in two speeds, but the factor there would be tech. Either you work in the tech sector and see growth, or nothing is happening in other industries.
Personally speaking, I do not think it is fair. Not everyone wants to work in tech, and you do not need that many people either. What are we going to do with the rest of the population?
That is why I believe in the Universal Basic Income. I would believe it will work in our advantage. I think it makes class warfare more risk-less.<rants></rants>
