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What is a good about Covid 19 related?

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Circlotron:

--- Quote from: IDEngineer on March 30, 2020, 11:14:29 pm ---Work zero hours and I doubt you'll have a line of people waiting to give you cash.

--- End quote ---
Unless you're Imelda Marcos. I saw her being interviewed on tv once and while she was talking with her nose in the air she was thanklessly opening one envelope after another with money in them that desperately poor people had sent her.

nctnico:

--- Quote from: IDEngineer on March 30, 2020, 11:14:29 pm ---That happens naturally: Work zero hours and I doubt you'll have a line of people waiting to give you cash. You don't need a UBI to do that, Nature does it automatically.

--- End quote ---
If you go back in history a bit then you'll see wellfare has been 'invented' to keep the poor people from criminal behaviour and providing them with a basic sanitary living standard so they don't endanger the rest of the people with diseases. The alternative is to live in reversed prisons (a fence and guards to keep the poor people out). The economics decide what is most cost effective.

IDEngineer:

--- Quote from: nctnico on March 30, 2020, 11:43:49 pm ---If you go back in history a bit then you'll see wellfare has been 'invented' to keep the poor people from criminal behaviour and providing them with a basic sanitary living standard so they don't endanger the rest of the people with diseases.
--- End quote ---
You'd think people would NOT want to accept "welfare", UBI, etc. and thus be lumped in with the "poor people" who are associated with "criminal behavior".

Marco:

--- Quote from: IDEngineer on March 30, 2020, 11:08:57 pm ---You cannot have a "debt jubilee" for private debt, because just like "student loan forgiveness" it penalizes those who have properly managed their finances.

--- End quote ---
So does a deflationary spiral, just in a far more painful way which led to world wars in the past.

Unless properly managing is having enough money for a private island to get out of dodge for a while while society collapses, but I don't want to reward that level of properly managing.

The private debt overhang is unsustainable and both the debtor and creditor side of the equation are guilty of creating the situation. Non financial private debt was worse than 2007 before Corona, it's going to be off the charts soon after GDP shrinks. You can inflate it away or default it away, but it's not going to get repaid in full value ... that's for damn sure.

Sredni:
There is indeed some good that will come from all this, but it is for selected people only.


* Some politicians will learn that they can literally get away with mass murder through inaction and or sheer negligence/culpable stupidity, and their supporters will love them all the more.
* Other politicians will gain sweeping powers and new means to control the population that will look so good to be let go of, once all this has become the new normal.
* Some fat cats in Wall Street and related venues will become unbelievably rich by betting on the demise of entire Countries, adding up to the number of death with the misery their speculation will cause.
* Many CEOs will likely continue to receive their huge bonuses even if - especially if - they will be forced to give the axe to a sizable chunk of their workforce.
* Manufacturers of life-saving apparel will increase the price of their merchandise in auctions between States.
* Young doctors will find it easier to have a career.
* Undertakers will learn to drive a Lamborghini.
Too dark?

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