So U.S. businesses won't be able to increase exports. This is a combination that could send the economy into an even deeper tailspin, of the kind that causes great social dislocation and political crisis. Layoffs and shutdowns are rampant in the high-tech industries. Every Internet company is cutting back and laying off. Only five of the top 280 Internet stocks are down less than 5 percent.
None are up for the year.
A recession hits the working class the hardest. It can also devastate small businesses. The rich, the big businesses and big bankers can wait out a recession and will even find a way to make profits from it. That's what often happens in a recession. With every severe downturn comes the capitalist propaganda meant to convince the people of this country that it is necessary for them to make sacrifices.