The economic recession lasted from 2007 till 2009; this the official economic recession is gone and but a distant dim memory.
Today changes in the economy are followed by thousands of analysts who use hundreds of different metrics many from different data collection sources to analyse and forecast economic change.
The amazing thing is these changes are reported as zero point three of a once percent change. Essentially this means when your are describing a 0.3 % change nothing happened at all, given all the different factors that went into the equation.
But if you spend a month running numbers and attending meeting and then present your beautifully bound report to your boss who opens it and reads your one page; nothing happened. You do not need a college education to know you had best start taking some of your desk clutter home, its time to consider your future job prospects . . .
The Recession happened officially from 2007 till 2009 since then The Great Depression has been our constant companion. Essentially none of this matters now; today over 70 percent of the American population can not afford to be a part of the American economy.
This vast majority of Americans are essentially bankrupt, unable to find their no longer existent retirement funds maintaining their underwater loans for their housing that has no chance ever of being worth their repayments. So essentially it is " game over " for the American economy simply because the vast majority cannot participate nor benefit from it.
Once you take the people out of the economy it has only one way to travel; deflate. The economy will shrink and shrink some more, but many people will continue to say everything is OK people are making money again . . .
They are just waiting for the new inevitable economic catalyst event that rocks the economy to soften the public news that the economy is far worse than what was generally admitted.
So yes we do need the bubble to burst so reality sets in at the policy makers level and something is done to stop this continuing cancerous decay. But reality says; what can be done ? At this late stage, probably no much; it is simply " game over " all we are doing now is await the overtime clock to run down until someone blows the final whistle : (
/ hugz ; )
lol not sure what this message is lol : )
I was expressing how I felt about your comment. I really love this part,
What do you think will happen during the burst and after? Will cryptocurrency naturally replace the fiat and gold currencies?
Be assured if and when the bubble bursts there will be no cryptocurrency. Every time in American history there has been a " run on the banks " or the ' Stock Market ' enters turmoil the government declares a financial holiday.
Be assured that the NSA computer surveillance installation in Utah has a little worker drone sitting in a chair with their finger on a disruption button to take all cryptocurrency sites down the minute it seems to threaten the established financial order of the status quo.
I am no conspiracy nut-job ; but to suggest the government thinks it would be wise to have a bunch of red-neck gun toting anarchist the main people with spending power is just plain madness. Those people into crypto are outside the mainstream of normal sheep buying the media and government fear, propaganda and marketing campaigns.
Thus by definition that makes them gun toting red neck anarchists . . .
The only thing worth having will be small portable and easy to trade and hide some people will always believe in nothing , but you will always find more people who will believe in scarce solid metals !!!