Just how bad will US Imperial Implosion Get? Michael E. Hudson on Raising the Sacred Torch

 Michael Hudson and Ellen Brown: Banks vs. the Real Economy on "It's Our Money" - vid
 and

Economic Nightmare: Nearly 50 Percent Of All The Jobs Lost During 2020 Economic COLLAPSE! vid

technically it's called "Debt Deflation" - since it's from the fed printing money and not from labor being paid too much. So the big issue I think is foreign holdings of US dollars - and the value of their currencies. So the Great Depression was not just from Wall St. speculation and being too leveraged but rather from tariffs also being too high. So then since global trade is also way down, partly due to tariffs, then there has been a big drop in foreign purchases of US treasury bonds. Normally the PetroDollar relies on Foreign loans being in dollars to buy oil in dollars and then the foreign currencies are kept low to make their exports cheap for the US market. But if the Stimulus is lowered and US consumers can no longer even afford the cheap imports then foreign governments are not gonna buy US treasury bonds since they won't have as much US currency. That will accelerate the Debt Deflation as the value of the US dollar will fall relative to other currencies. China now has an international loan bank that rivals the World Bank/IMF/GATT set up. So yeah considering GDP fell by a third that means purchasing of imports in the US must have plummeted also. We know food and rent/mortgages are way too high relative to US wages (40% of US workers makes $15 or less an hour)....

So the key remaining factor is foreign imports and the value of their currencies. The US Empire is counting on the US Military to keep US foreign markets forced open - meaning they buy US exports like tobacco and then they provide cheap imports through sweatshop "free market zone" slave wages. If they don't play along then the US does trade sanctions and if the country still doesn't play along then the US military is sent in for coups and "restoring democracy" (local fascist regimes). But that Imperial Project is very costly - the US military has a very low rate of return on investment now - it's not like the early 20th century.

Give Me 10 Minutes and I’ll Show You Why the Collapse Can’t Be Contained.  vid