I've heard that some people are speculating whether the current economic slump could spiral into a full-on World Depression II.
How did I get that name?
WWI was originally called The Great War. Thought of as a war to end all wars. Then came WWII, and TGW was renamed WWI.
So The Great Depression stays TGD as long as it is a one-time only thing. But as soon as someone declares, "It's happening again!", then TGD becomes World Depression One, and we get stuck fighting Super-Nazis In Cyberspace during World Depression Two.
How could our current situation deteriorate into a World-Wide Depression? I don't know the specifics. But I do think the world is interconnected enough that one major player like us having a rough time would make things worse for everyone else. Like when your roommate gets sick.
I've also heard, by the way, that this is all part of some master plan to mess with the world's economy to the extent that a single currency, world-wide, is thought of as good.
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