The Titanic May Have Hit The Iceberg...We Will Soon Find Out

If the corona virus is anything like the Spanish flu then 2 billion people might get infected and 100 million people might die. We don't know that now but it will become clear in the coming years. It might not seem the right time to think about the economy but it never is when people are dying. But we should think ahead because the corona virus can easily sink the global economy if it becomes a pandemic. And it doesn't require 100 million fatalities.

Drastic measures like closing public places and businesses to contain the virus can trigger an economic depression. And even that is not needed. The fear for the virus may be enough to do the job. The world economy is brittle despite its apparent strength in recent years. The crisis of 2008 nearly collapsed the world economy, even though the trigger of sub-prime mortgage debt was relatively small.

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So what is the problem?

Incomes fluctuate while interest payments are fixed. Most people are hardly aware of the consequences. Usury, which is all interest on money and debts, is the reason why relatively small events can escalate into a global depression.


Last Edited by niphtrique on 03/07/2020 02:43 AM