Coronavirus could cause an economic collapse worse than the Great Depression – world disintegrating before our eyes
Those economic risks, over the long-term, are exacerbated by the surge in government spending that has occurred as national leaders try to support people whose livelihoods have been threatened by the social distancing strategy. Some analysts fear the spending could trigger a wave of debt crises, but Georgieva urged an aggressive approach in the short term. “Very clearly, the world is building up much more debt,” she said. “It has to be done … do as much as you can, and then do a little bit more, because this is the only way for us to go through the first stage of this crisis.” –Washington Examiner
And so it goes, wherever SARS-CoV-2 shows up. The International Labor Organization has warned that it will destroy 195 million jobs worldwide, and drastically cut the income of another 1.25 billion people. Most of them were already poor. As their suffering worsens, so do other scourges, from alcoholism and drug addiction to domestic violence and child abuse, leaving whole populations traumatized, perhaps permanently.
In this context, it would be naive to think that, once this medical emergency is over, either individual countries or the world can carry on as before. Anger and bitterness will find new outlets. Early harbingers include millions of Brazilians banging pots and pans from their windows to protest against their government, or Lebanese prisoners rioting in their overcrowded jails. –Bloomberg
If a vaccine or low-cost effective treatments are not found for the COVID-19 virus, the economic and psychological impacts on our societal structures will be too great to bear. Nation states will begin to disintegrate. Crime, revolution, and anarchy will become the order of the day, as countries run out of money, food, and hope. We are living on a knife’s edge while staring chaos in the face and it is not wearing a surgical mask.
Source: https://theextinctionprotocol.wordpress.com/2020/05/01/coronavirus-could-cause-an-economic-collapse-worse-than-the-great-depression-world-disintegrating-before-our-eyes/
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