The immediate impacts of the Coronavirus worldwide and in the United States is horrific but the economic fallout after this pandemic ends may be more deadly.
Economic Fallout Caused By Coronavirus Will Be Far Worse
But the economic fallout and resulting impact on our fragile just-in-time supply-chain infrastructure from Covid-19 and the resulting austerity and deaths may easily surpass what was attributed to the 1930’s economic collapse in the U.S. during the Great Depression, and may last for a decade or more.
Few people realize that the United States imports a major percentage of what Americans need to maintain the lifestyles to which they have grown accustomed and depend. And many of those imports have already slowed, significantly. It’s like pushing a huge boulder uphill; the moment you lose momentum, it can roll-back and right over the top of you.
Excerpt from Foreign Policy Magazine:
“Beyond the immediate treatment of those infected with coronavirus, however, Western governments have almost universally shut down rather than ramped up production. As one financial analyst pointed out, “lockdown economics” is in many ways the exact opposite of the wartime economics of total mobilization.
During both world wars, economic mobilization enrolled unprecedentedly large groups of male and female workers in mass production. The coronavirus’s disruption of supply chains and the social distancing measures of today, however, are currently putting millions of employees in the manufacturing and service sectors out of work.“
Sorting Out The Pandemic May Not End The Crises
Folks that loiter too long in cities in the hopes that sorting out the pandemic will end the crises may be in for a very rude, and potentially deadly surprise (time is already a critical aspect for effective tactics).
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