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| It’s called a depression
It would be hard on land, retirement accounts, investment accounts of all types, including any stocks, etc anyone would own. I do see a scenario where even the bond market falters since interest is paid at maturity. But you can forget about long term bonds of any sort used to fund housing as well as land.
No incentive for anyone to invest money to drive R+D.
It could be the largest single factor to destroy private ownership and send the US and then the world economy into chaos.
It would like stop inflation cold—- for all the wrong reasons.
Jobs, you won’t have one either. | |
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Harris tax on capital gains?
