I don’t think or care about the economy as much as others, but I acknowledge people need to. That’s why Scott isn’t calling a lockdown yet. It’s money. For me I’m happy to let capitalism as we know it die and reborn lol I don’t really care. A better system could start. But I acknowledge many people want our economy not to be in recession not depression to the extent we risk further spread.
Hi Jay - I assume you haven't lost your job yet?
The alternative to Capitalism is Socialism or Communism. That your preference? Have you done a recent review of the Socialist and Communist nation states? The Communists are China, Cuba, Laos, Vietnam. The countries with Socialist constitutions: Bangladesh, India, Sri Lanka, Guyana, North Korea, Nepal, Portugal, Tanzania. Multi-party nations with current Socialist government: Angola, Bolivia, Congo, Ecuador, El Salvador, Ethiopia, Guinea-Bissau, Greece, Mozambique, Nicaragua, Uruguay and Venezuela.
I'm curious to understand which of these utopias, these progressive nation-states with strong social justice, equality, high degree of health care and education, strong economic management, you would rather Australia look like?
I'm actually trying to have realistic options
https://www.theaustralian.com.au/business/its-modern-monetary-theory-time-as-the-state-steps-in/news-story/ab070170b6b70ad4dd1fb4319ae1947a?fbclid=IwAR2v_SMdoC3bvtQQ8RxAQbFrWGCGbgmAMpt77t-O6EfIYbBYPn11INgoSF4
Also the Nordic model is half socialist and they have the higher happiness index's in the world.
No one can read the article because it's behind a paywall - post it up if you can
Damn, I can't either. I also posted my thoughts poorly. I have invested interest in the economy, I have super and all that stuff that could dissapear in a great depression. If it does, what are we going to do. I can't open the article again but it's saying how we may have to move to 'modern mometary theory' for a time. Everyone can receive money to survive, bailouts, projects etc etc, as apposed to the alternative poor people being dead broke in a great depression and rich getting richer. Currently we are proposing borrowing more and mroe until the world is what 500trilliion in debt. Who is going to pay it back. The reserve banks won't want to deal with this. Or, the government can simply, make money out of thin air. Because, money isn't a thing any more. Its not gold and mint. And yes, it would be ran by the state, it would have to, not the banks.
Sorry I can't explain it well. I wish the article worked. I tried to explain poorly I was only thinking about stopping the virus, which ill bet will continue to spread exponensially for a while, but yes it is important people think of the economy, because I don't so much, that's why I would never want to lead a country, jesus. We need people that aren't only concerned about spread of virus, but the financial aspects etc too.
What's happening now is big but it's not like we haven't faced this recently so we gotta accept it and have a financial system that will look after everyone if we lose our houses etc. I mean the spanish flu killed what 50 million? And that was 100 years ago, pretty much yesterday in history.
What we need is to learn from this event and lay foundations for these scenarios in future.
Questions to ask are, but not limited to:
What's the plan?
How do we quickly increase capacity in health & vital supplies?
How do we flip on a dime into lockdown mode?
How much money will it cost?
How will we pay for it/what reserves do we need?
If people had certainty around this, confidence would return fairly quickly.
Bill Gates seems to be hailed for "predicting" this in 2015, however Tony Abbott spoke about Australia's unpreparedness for an event like this back in 2005 in Ottowa. He began stockpiling medicines (i.e. enough flu vaccine to give to 50% of Australians) and pushed for an emergency plan (much like what we are experiencing now). Not much eventuated because he wasn't taken seriously.
Rather than dismantling the current system, we have to have a plan to mitigate the risks both economically and from a public health point of view in the event these crises occur.
Forgive if I'm wrong (I tend to be), but you can't actually stockpile flu vaccines can you? As the vaccines are updated every year in response to new strains?
