The economy is headed toward a large upheaval before the next election. It is caused by a large decline in the price of oil. The large banks thinking the demand for oil would continue to rise forever have trillions of dollars of oil loans on their balance sheets that are soon to go bad. The value of these loans is five times the amount of housing loans that went bad during the last Great Recession around 2008. The banks are in denial, ignoring the large decline in demand. Developed nations are rapidly moving to renewables. The US is far behind but moving ahead. China is moving rapidly off fossil fuels. They are opening up one new hydroelectric plant a week and are expanding the use of solar and wind far more rapidly than we are.
With this disruption in the economy, many millions of middle and low-income people will lose their jobs putting their families at risk. We already have the worst income inequality since at least 1910 which was well documented by Thomas Piketty. Recent studies from the Pew Research Center demonstrate a complete vanishing of the middleclass in a few years. Also, economic inequality deepened after not being addressed during the aftermath of the Great Recession. This led to the middle-class putting in Donald Trump who is exploiting a fascist-leaning agenda.
We progressives have to be ready to act or the country will slip further to the hard right to real fascism. DAPAC is ready to recruit and educate a new generation of progressive young people to lead the country. Please join us and we will emerge as a progressive value-based country. We progressives need your valuable support now.