EzraS wrote:
magz wrote:
EzraS wrote:
The US dollar is flat currency. When the US economy collapses the US dollar will no longer be worth 1.00 it will be worth $000.1 The same goes for the British sterling pond and the Canadian dollar. Farms will go out of business, water companies will go out of business, oil companies will go out of business, electric companies will go out of business
Why?
The economy collapsed here in 1980s, we had 1000000% inflation and the farms are still producing food, water is still in pipes, electricity is still in place. There were shortages but none of them as catastrophic as you picture and the recovery was swift.
Poland had been though a lot between 1939 and 1980, had 1/10th the population of the US, probably not a good economy the whole time, and was therefore probably better equipped to deal with such 40 years ago. I imagine it was more on the agrarian side back then.
Why do you assume a more damaged country is better equipped to deal with economical problems than a less damaged one?
EzraS wrote:
Do you think an economic collapse is going to make for a better situation with which to deal with covid19?
Like a devastating economic collapse is just the right thing to happen during a pandemic?
First of all, in my experience, economic collapses are not as catastrophic as you seem to imagine them, unless there is additional strong damage from the side of political influence (wars, regimes - not necessarily state politics, mafia and warlords are just as good).
Second, the economy must be quite rigid and fragile to collapse massively because of prolonged partial lockdowns - otherwise it would adapt to them instead of collapsing.
If the US economy is indeed so rigid and fragile, then it needs a massive reconfiguration anyway.
_________________
Let's not confuse being normal with being mentally healthy.
<not moderating PPR stuff concerning East Europe>
Last edited by magz on 18 Apr 2020, 6:35 am, edited 1 time in total.