You missed a few things, notably, a collapsing dollar. Say it loses 50% of its value in the world market.
Fine, imports are twice as expensive. So are our exports, fixing our trade imbalance. Businesses and their employees working in the global market are going to do great. So are local businesses supporting them.
True, the heartland is going to be ripped to shreds (already happening in Detroit); but this is going to have a very important consequence. Millions of angry, unemployed lower class folks that are going to have no problem making the 4pm cutoff for the voting booth. They are going to rally behind whomever offers them New Deal 2.0.
