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"What will it look like when the sky does fall?"

A third of the entire workforce out of work, a 25% drop in the average standard of living, widespread lack of liquidity for people and businesses, massive business failures, GDP slowdown of greater than 20%, etc.

In my opinion, we may or may not have some sort of partial financial meltdown within the next 10 years or so. If so, it would involve a serious drop in housing prices in selected areas, some big hedge fund disasters, widespread derivatives lockup, and stuff like that. But I don't think it would cause a "sky is falling" scenario, although it might seem like it at the time.

A strong economic system can make up for all sorts of flaws and problems.

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