This is what I think a lot of folks are missing about the current situation. This won’t be a run-of-the-mill recession. It would be physical, material disruptions in a whole lotta systems in transportation, food, manufacturing, energy, you name it. This means a lot of unemployment. The pandemic and 2008 are gonna look funny conpared to it. It’s not merely a crisis in the metadata (finance) which can be corrected via adjustments. It’s actual lack of a thing we use for everything. Increasing the price of it, which will absolutely occur, won’t make significantly more of it available. It would just change who gets more of the much smaller amount available. And when something gets expensive, the poorer people and countries get less of it than than the richer ones. Which means the crisis gonna get em that much harder. The only reason we haven’t experienced disruption yet is because we’re burning buffers and reserves at the moment.
This is what I think a lot of folks are missing about the current situation. This won’t be a run-of-the-mill recession. It would be physical, material disruptions in a whole lotta systems in transportation, food, manufacturing, energy, you name it. This means a lot of unemployment. The pandemic and 2008 are gonna look funny conpared to it. It’s not merely a crisis in the metadata (finance) which can be corrected via adjustments. It’s actual lack of a thing we use for everything. Increasing the price of it, which will absolutely occur, won’t make significantly more of it available. It would just change who gets more of the much smaller amount available. And when something gets expensive, the poorer people and countries get less of it than than the richer ones. Which means the crisis gonna get em that much harder. The only reason we haven’t experienced disruption yet is because we’re burning buffers and reserves at the moment.