Has The Second Great Depression Arrived?
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This week, the stock market crashed hard. We haven’t seen anything this bad since 2008. The 2020 crash was driven by very real anxiety over a pandemic. It was short-lived. This time, the damage is entirely self-inflicted—and we don’t know how long it’s going to last. Money didn’t listen. Mega corporations and financial institutions poured fortunes into the Trump campaign. CEOs like Jamie Dimon trumpeted a golden age of deregulation. Billionaires who never should’ve been allowed to buy up newspapers finally did exactly what we anticipated, stomping out dissent at their publications and bowing down. From Fox to CNBC, financial pundits laughed off the idea of tariffs, calling out “fearmongers.”
Now, here we are.
While the market was crashing, millions more have also had the pleasure of dealing with record storms and flooding. Oh, and America’s former “favorite doctor” became the head of Medicare and Medicaid. Stories about Dr. Oz never get as much attention as you’d think, and I suspect it’s because such a vast swath of the American media empire and their audience don’t want to face what suckers they were to continue platforming him and his quack medicine for so long.
Every week, it’s worth looking at the cloud of headlines to remind ourselves of the bigger picture about where we’re headed.
Because it’s not just tariffs.
There’s so much more.