Is the Coronavirus Causing the Great Depression 2.0? - Great Chris Martenson Video!

Peak Prosperity

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In the past two weeks, 10 million Americans have already filed for unemployment. Moody’s is now warning that 30% of all mortages could go into default this year.

And the peak of the coronavirus outbreak in the US still isn’t projected to arrive for several more weeks.

How bad will the economic fallout from covid-19 be? Truly epic. As in possibly “Great Depression 2.0″ magnitude.

Yes, the clown show in charge of dealing with this mess will likely just make things worse.

But the reasons for the dismal economic outlook go far beyond the damage being done right now by the coronavirus.

The global economy was dangerously unstable and unsustainable long before this pandemic started.

Covid-19 is simply the trigger to bring the house of cards down.

Peak Prosperity has been warning of such an economic breakdown for many years.

Through our Crash Course video series, we’ve laid out exactly what the biggest risks are and why we should have been (and still should be) so concerned.We’ll be surfacing those core deficiencies in upcoming videos, as we are now swiftly moving from the “warning” phase and rushing into the “managing” phase.

Being armed with the information to take appropriate action will become even more important in the days to come.

** MASKS ARE MUCH CHEAPER THAN CLOSING DOWN THE COUNTRY **

Good quote —-” Having certain states making masks mandatory and others not is like having a peeing section in a swimming pool. “

Chris I just want to tell you that I adore your humility. I have had the unfortunate experience of knowing a number of folks who lived in academia long enough to acquire their PhD, and too many of them were stuffed shirts who could pass up everything but the opportunity to tell you how amazingly educated they were. You are a credit to the group of people who were not only born with the gift of high intelligence, but the dedication to stay in the game long enough to do something with it. And those of us who recognise at least some of that intelligence, are blessed and lucky to have found your soapbox. Thank you again for taking the time to share your observations with us out in the world wide web.

The Walt Disney company is furloughing all US employees including sr. Management and all staff including cast members from iImagineering and it’s projects…that’s a heck of a train to stop on the tracks, the largest entertainment company in the world.

Hi Chris, a few points from Sweden:

* For starters, Swedes are encouraged not to wear face masks. And people or journalists who suggest it are mocked by the de facto head of the Swedish response Anders Tegnell (an epidemiologist at the ”Health Agency”) as being unscientific alarmists.

* My GF and many of her friends are doctors. Sweden is not testing at all, unless it is a very serious case. So I strongly doubt the roughly 10 % recorded increase a day is all of it.

* In the beginning of the 90s, Sweden had 4300 ventilators. Now we only have 570, and half as many ICU beds per capita as Italy. (With 470 corona patients in ICU right now.)

* Also (partially due to the facts above), old people have already basically been thrown under the bus, just like in badly hit countries before Sweden – though authorities pretend like that is not the case.

* The de facto head of our response – Anders Tegnell – has continually instructed the Government to have this no-worries-attitude, and has constantly downplayed the risks. A day ago, ironically, he was on the news saying “I don’t know what happened. I don’t know what we did wrong, for the virus to get in”. So, I’d say there is a lot of incompetence and normalcy bias among those in charge in Sweden, and a fear to act decisively.

* I checked one or two days ago, and at that point, for comparison, Sweden had more fatalities (283 at the time), than the combined death toll of Japan (!), Australia, Denmark, Norway, Finland and Estonia (who all together had 282 dead at the time). I don’t think that has changed for the better as of writing this. On the contrary, we could probably add Iceland and New Zealand to the list today.

* Lastly, the normalcy bias is rampant also among the wider population. I try to make my family get the seriousness, but they (including one sibling who is a medical doctor) still ask me if I want to come to them for Easter.

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