Mark My Words

I can absolutely promise you that when the economy tanks and a new round of absolutely brutal austerity measures is introduced, we will be told that the recession predates the pandemic and the quarantines didn’t cause it.

And people will believe it even though they are witnessing at this very moment how the economy is being methodically destroyed under the excuse of the pandemic.

3 thoughts on “Mark My Words”

  1. ” the economy is being methodically destroyed”

    Governmental response to the coronavirus is a great example of end-stage capitalism that has reached destroy and plunder as goals in and of themselves – to the cheers (or at least assent) of those being fleeced.

    Anyone want to bet on how many corporations will own how much of the US economy one year from now? Two years?

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  2. Australian authorities now talking about not full re-opening the economy until July. Australians better accommodate themselves to a future of what will amount to state capitalism: one chain of grocery stores, one hardware/home decor retailer; two competing restaurant chains (for “variety”), one chain of fake pubs, etc. This may not be the authorities’ plan but it certainly suits the needs of the elites.

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  3. On the other hand, with so many people out of work, I also expect to see an increase in the “ghost” sectors of the economy: useful unemployment and off-the-books transactions: more people, voluntary or not, managing households instead of going back to work. More “gift economy” type transactions. Probably a small but significant chunk of people who no longer want to live in the big city, and are now able to relocate anywhere they can get a decent internet connection. And a few people who used their lockdown time to figure out how to make a home-based hobby into a full-time job. More who’ve unexpectedly had time to realize that they’d rather live out their days as frugal bike mechanics than go back to their cubicle farms… and are now plotting escape.

    There will be damage. It may be long-term. The Democrats will definitely try to blame it on Trump (really, is there anything that can’t be blamed on Trump?). But there may be some unexpected results from giving millions of people 6+ weeks to reflect. Not all of them spent it watching Netflix and eating cheetos until they puked.

    It’ll be interesting.

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