More than any single variable in this COVID crisis threat matrix, the economic calamity is by far the biggest ticking bomb. And the collateral damage from this will not be confined to any sector or corner of society – the impact is indiscriminant.
Perhaps one of the worse fall-outs from the government’s mass-panic lockdown policy has been obliteration of the health and fitness industry. Not only has the government’s voluntary implosion of the economy destroyed the market for personal trainers, holistic practitioners and massage therapists, but it’s also wiped out scores of previously successful gyms in the US, UK and Europe.
More than any other country in Europe, British towns and cities are going COVID crazy (Photo Credit: @21WIRE)
No doubt by now, you’ve probably seen this popular new socially engineered Zeitgeist term “New Normal”. It’s a vague, all-encompassing banner under which just about anything COVID-related can be housed. Two countries which are embracing this concept with exceptional vigour are the United States and the United Kingdom.
I had saved the article below last week- It's best to get it published so it's clear how it was the BLM/Antifa protests were sanctioned by the "health care" industry. Despite the presence of an ongoing pandemic. Certain groups of protestors were applauded, their gatherings sanctioned by police forces, politicians and others who "took the knee" Yet, these same individuals (one here) harassed, chastized, fined, set up snitch lines to cause financial harm and m
What are the real economic implications of the coronavirus lockdown? Will the economy, or society ever regain its former footing?
Governments are now spending trillions to manage the fallout from COVID-19 crisis. But how long can this last? Is western society moving into the era of bigger government and sweeping state intervention in markets and infrastructure? Can globalization really be unwound that easily, and is the last four decades of ‘pro-market’ neoliberal reforms coming to end? If so, what is coming next?
Few Americans realize that the US Federal Reserve Bank has just piled $6 trillion in assets on its ledger. What happens when those assets turn to losses? Remember 2008 subprime mortgage crash? In short: the banking profits are privatized, while their losses are socialized (the people will pay in the end).
The penny is now starting to drop, as the markets begin to respond negatively to leading Western governments’ risky self-imposed economic Lockdown policies in their reactionary attempt to contain the spread coronavirus crisis. The economic apocalypse about which experts were warning, but which government have been actively ignoring, is beginning to arrive.
“The largest economic transformation in the history of mankind.”
Cory Morningstar
21st Century Wire
The arrogance and brutality of the ruling class – is nothing less than breathtaking.
Let’s begin…
For the United States, the sheer size and many state and regional complexities make it difficult to impose the kind of ‘one size fit all’ policy which many in Washington DC and some Governors are calling for amid the corona shutdown. Here is one such case study.
