by Clive Maund
The world suddenly finds itself tipped into the gravest crisis since the 2nd World War, and with respect to the global economy it is actually far worse, because the financial system was teetering on the verge of collapse even before the coronavirus epidemic surfaced as a result of the exponential growth of debt and derivatives – so the virus epidemic and the reaction to it has simply acted as a catalyst to bring the whole house of cards down.
The current situation where countless millions of people are sat at home twiddling their thumbs and scared to go out is untenable. The economy is coming to a dead stop and if it continues the result will be anarchy – mass unemployment, privation and even starvation and eventual widespread civil unrest. The government can send out all the welfare checks it likes, but if nobody is producing anything, where is all the food and stuff people consume going to come from?