Five minutes read.
The short answer is YES.
Here is why.
Because according to the Institute of International Finance global debt, including borrowing by households, governments and companies have jumped to more than three times the size of the global economy.
Because consumption has been subsidized w/debt borrowed.
Because preparedness for a potential Pandemic is low.
Because in an increasingly fractured world where nationalism is often prized over cooperation.
Because multinational institutions have little or no teeth.
Because there will be a bloodbath on the world stock markets.
Because without trucks, ships, etc goods don’t move.
Because of runaway cost inflation. Less consumption, idle factories, broken global supply chains.
Because of the purchasing power of money. Without the massive government subsidies, there would be no banking profits, no management bonuses, no functioning finance.
Because you can’t print your way out of debt.
Because what we have is all government spending is debt because most are borrowed from the magical money machine called the Central Bank
Because No one knows what to do. We are in new territory here. By the time we figure out how to do it climate change will produce billions of refugees
Because clickbait headlines flooded the Internet.
Because anyone who doesn’t think the outbreak of the virus will not have a huge impact on their way of life, our economy and the world economy is truly ignorant of the situation. The opiate of the uncultivated herd.
Because right now it is interfering with the production of all sorts of things that most of us take for granted every single day.
Because China is losing billions a day.
Because it’s not possible to quarantine the world and the virus will probably with us beyond this year. a new mutation of the coronavirus will hit us every year, and it will keep coming back.
Because let’s call a spade a spade it’s going to get very ugly over the next few months. Do you know where your money really is?
My personal opinion is to keep your natural immune system at the highest working levels. I cannot prescribe anything. Ignore the click-bait headlines meant to get you on some web site.
The moment of truth is yet to come we will be all offline however perception drives reality.
If the people on this planet believe that their health is threatened by this virus, the global economy, already on thin ice, will collapse.
It is going to cost the global economy more than money unfortunately some of us will never know what hit it. Covid-19 another word for Inequality.
All human comments appreciated. All like clicks and abuse chucked in the bin.