So much for settling those Keynesian "animal spirits".
Roll the kooky economic collapse conspiracy theorist footage. Not so kooky after all.
A bank holiday. A Bank Holiday! All those folk advising us to grow a survival garden, buy gold, stock up on ammo, stash one months supply of cash and horde food - those fringe whack jobs! - were actually clued in to a very real possibility being considered by the Whitehouse.
The fact that this was even discussed at any point should tell you how dire the condition of the economy. The smoke will eventually clear and the mirrors will inevitably tarnish to expose the reality of an unmanageable (and previously unimaginable) debt service the FedGov has saddled us all with while exporting the productive capacity of the nation, and therefore even the slim chance it could be serviced while any of us maintained a decent standard of living. Cap that off with the Moron in Chief pushing for yet another massive tax increase; on energy! of all things - can anyone think of a better way to accelerate the economy faster off the cliff?? - and you have a train wreck that makes the malaise of the Carter administration look like a 5 MPH fender bender.
I knew he was dense, but I didn't think anyone on the planet had a talent to do everything wrong.