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Yup. Two things can never happen: 1) General labor strike 2) General rent/bill strike Either one results in an immediate liquidity crisis/credit crunch and t
by underlipton 1y ago
Yup. Two things can never happen:
1) General labor strike
2) General rent/bill strike
Either one results in an immediate liquidity crisis/credit crunch and the delegitimizing/insolvency of most institutions. The beginning of the COVID pandemic was, essentially, this.
I would add in "general bank run", but I imagine that they just... wouldn't let that happen. Ironically, an emergency "injunction" against withdrawals.
- collingreen 1y agoWhen money became notes on a ledger controlled only by those who already have all the power true, country shaking bank runs went out the window.
- Whoppertime 1y agoWouldn't a general rent strike look like the Eviction Moratorium of 2021?
- underlipton 1y agoNo, because people still paid their rent if they were able to.