Can we Have a Great Depression When Everyone Has Internet In Their Wallet?

I tweeted it out last night and had a convo with some BT members - 10 MAR 22

I have been thinking about what recession or depression the global economy will have.

BowtiedSeaTurtle @BowTiedSeaTurtl

Is it possible to have a great depression when internet is still available to the masses?

Then I began wondering what effect smartphones had on the stock market.

BowtiedSeaTurtle @BowTiedSeaTurtl

Shouldn't even compare newspapers; cause that's ultimately not the point. It's how fast you can send letters/emails. If Hurricane Katrina hit New Orleans back in 1905 vs 2005 what would get a better relief response?

BowtiedSeaTurtle @BowTiedSeaTurtl

@BowTiedShell Feel like speed of information has improved truth in that regard. Feel it’s fair to say a NYT article in 1907 was just as biased as one in 2007. Todays individual is able to see multiple newspapers with opposing views.

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I know after 2008, the financial policies were very relaxed that allowed printer machines to go brr culminating in the COVID relief, which made printer machines go BRRRR

But looking at the rise of SmartPhone adoption has drastically increased, I wonder how much more efficient they have made the markets. I think all of us are very thankful for finding crypto, but how many of us would have found it without the internet? Or, more specifically, since we can now carry the internet in our pocket?

Markets can now find networks faster. Instead of waiting for a letter to get to someone in 1-2 weeks, an email can get there instantly. And the world’s most brilliant people can now all connect instantly to solve problems.

Social Media provides instant polling (I’m aware Politicans / Big Tech can also manipulate social Media). Also, Politicians can now A/B test out policies in real-time. Still, sometimes it is so apparent the public is done with an approach that politicians can’t ignore it (The recent ending of mask mandates comes to mind).

So if we were to have a financial collapse, I’m not sure how long it could last. The speed to fix problems would be so different and more effective in years past.

I don’t see the depression coming, but I could see the markets adjusting to the new supply chain issues. The markets needs had to quickly react to more and more people getting deliveries than three years ago (I have yet to hear any analysis on how 1/4 of the population working from their homes has shocked the markets).

Energy will be shocked, and Russi seems to be removing itself from the market. But just like COVID, I think the population can only take so much. I see policies changing to alleviate pressure, specifically the energy sector, and with the internet, new efficiencies will be found. (An example I think about is how BTC miners were kicked out of China and then three months later, it hardly had an effect on BTC mining)

How does this all relate to crypto? I see this next 1 - 2 years as a great time to buy proven DeFi protocols. I can also see it becoming very tight financially for the majority of the world. I will not be taking on any debt if I can manage and get coins that allow for compounding.

I’m excited to see what happens in 2024.

This isn't financial or legal advice. I'm doing daily journals of my life in crypto.