Coronavirus (COVID-19) Discussion Thread

[vivster]

John2290 said:

vivster said:

Currency is imaginary. That means it can be imagined to whatever it should be. Recession is just as well an imaginary thing. It happens when money stops circulating for one reason or the other. Recessions fix themselves as soon as people start consuming again. There is no such thing as a point of no return. That's just rhetoric from people who want to coax out bailouts for their fortune.

The economy is made up out of people, products and services, as long as those exist the economy will be fine. If for some reason things are not gonna be fine it's because major global players do not want to play ball because they only know how short term profits work. But that's nothing some social outrage or civil war can't fix.

A currency or recession is not an an ianginery thing, lending might be as in IOUs and printed cash money but currency is a reflection of work and labour, differences in exchanges of that labour and also how much time that labour is worth. A recession is a break down of the flow of this, harder to get that cash money going cause the IOUs or cash money doesn't work and gets less valuable without the physical work and exchange to back it. What did they teach you in economics? That you can just wish money into the world? Reassess your knowledge of economics because it is flawed at the most basic level. Oh and a depression is like a stalled engine, think of a recession as an engine you can fix by swapping out parts think of a depression as an engine that you need to build from the ground up and quite possibly can not get many of the parts. A depression on a country scale is managable, we see countries bounce back fron wars all the time relatively quickly but that is because the global engine keeps chugging along, a global depression is a mind fuck, it's never fallen apart so know one knows how to fix it, it would take years if not decades of work and trade deals between countries able to stand to get it back up and running again. Right now, before all other variables, we aren't going to get it back the way it was and the fear is from how much we fall short or fail.

You sure ate up everything the richest people on the planet want you to think. That's how you get those juicy bailouts.

The only way things are not gonna be fine after this is that certain people either do not want it to be fine or are doing things out of pure greed that will lead to it. Now that I said it out loud I think you're right. We're completely fucked.

My economics teacher was South Park Season 13 Episode 3.