What an economic depression represents is a loss of faith in the system. An unwillingness to engage economically for fear of further loss, be that of capital or time. Why invest in further skills if there is no market for them? Why invest if there is no demand? Today we see this loss of faith is well advanced in collapsing labor participation rates across all age groups. Under the current model, the hardest working people get paid the least. All surplus return from productivity is siphoned off to capital. Good jobs are constantly swapped out with low paying, low benefit junk jobs. Decades of hard fought benefits for workers were all rolled back in the most recent era, as if they never existed in the first place. A round trip to robber baron capitalism of the 1930s.
Any "modification" to the current system is automatically deemed "socialism". Meaning, Globalization is an ALL IN gambit to augment corporate profit by every means available, but primarily via the incessant marginalization of humanity and the environment. People have been used up, and they have nothing to show for it. The terms "socialism" and "communism" have lost any and all meaning. These terms which used to mean a more equitable return on labour, had to get co-opted by the rich, so they could be fully neutralized. China's richest man Jack Ma is now considered a Communist. Hardcore global exploitation is now synonymous with "communism":
On the other side of this crash, confidence will fall to zero. All of the various monetary machinations that kept it cobbled together for another decade will be viewed as nothing more than deceitful gimmicks. All of the apologists for greed and corporate profit will be washed away with history. No one will give a fuck what they think anymore. Today's frat boy circus clowns will no longer be laughing. The definition of an economic depression is loss of faith in the system. An unwillingness to engage economically due to a lack of trust in the underlying system.
A trust that has been undermined systematically by those whose only concern was to put more wealth in the hands of fewer and fewer people. At any cost, including the system itself. Those who still evince faith in the system are just the last ones to figure out they got used up.
