The Post-Coronavirus World Will Be Far Worse Than the Pre-Coronavirus World
Signs, especially in the United States, are that the post-coronavirus-plagued world will have even more inequality of wealth, within each nation, than existed prior to the plague. Billionaires are demanding to be included in the bailouts by their governments; and, because billionaires financed the careers of the successful politicians who won seats in their country’s legislature, those demands are almost certain to be complied with. Only the least-corrupt nations will be able to recover fully from the current plague.
In the United States, one Party, the Republicans, doesn’t even pretend to be concerned about the growth of wealth-inequality after 1980; but the other Party, the Democrats, do make that pretense; and so a deal is being worked out in the U.S. Congress that both Parties will tout as being a ‘balanced’ bailout bill, because it will bail out both the megacorporations that the billionaires own and control, and the public — their workers (especially the ones that those billionaires are now laying off). Because of the enormous give-aways to the billionaires, deficit-spending by the government will be soaring out of control, and ultimately paper money will plunge in value, which will bring on a global depression that will be even worse than 1929. Some governments will find ways to nationalize the wealth of billionaires and perhaps also of centi-millionaires in order to fund the continuing needs of the public, and there will be a scramble by many of those super-rich to relocate to countries where they still will be able to bribe enough government officials so as to provide safe haven for their accumulated wealth. Graduated exit-taxes will be instituted by any of the industrialized countries that aren’t totally corrupt, but the most extremely corrupt industrialized countries will experience massive capital-flight and a future as a “third world” nation, under extended martial law.
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