UndercoverElephant wrote:I think it is now clear that much of the global economy is going to be shut down. Our existing financial/economic system was already in serious trouble before this virus turned up. It was basically broken in 2008, and has been held together since then with extremely low interest rates and printing electronic money. That isn't going to work this time.
The list of businesses and individuals now heading for bankruptcy is unimaginably huge. Airlines, football clubs, most businesses in the hospitality, leisure and entertainment sector and every other business which involves avoidable human-to-human contact.
What do you think is actually going to happen? Are western governments just going to issue unimaginably large amounts of fiat money to keep everything afloat? If so, can this lead anywhere but hyperinflation?
I'm a bit more optimistic. On this forum we are mainly white(i assume) more mature (40-60+) and male, except for Tess when she visits.
We range from complete doomer to optimistic prepper.
There are oodles of people who will just shrug a financial crises off. Young couples just starting out will just get on with life.
Do not underestimate the desire for life in people.
Now we are entering a new paradigm, there will be new ways of doing things, new ideas, new inventions, the job/activity/calling/profession that a baby born today will do.....has not even been thought of yet.
It's going to be great.