It is truly amazing what can happen in less than a month's time. The sheer panic of coronavirus is going to lead people right into the laps of tyranny.
Do not believe that?
Look at what is taking place around the world. The citizens of Italy are being monitored by drones. In Spain, the police are walking the streets picking up anyone who strays more than a couple hundred years from their homes.
The global economy is cooked. Regardless of what governments or central banks do, small businesses around the world are obliterated. This is going to cost hundreds of millions of people their jobs. The total cost to this entire mess is going to end up in the tens of trillions.
We are seeing the end of the world as we know it. There is something taking place that doesn't make sense. SARS affected a lot more people, in a shorter period of time, yet we did not destroy the global economy over it. In fact, very few died.
We have people calling on the President of the United States to shut down the entire country. The Fed is going to dump over a trillion dollars a day to keep the Repo market going. In the United States, the bailout package has a price tag of over $2 trillion and that is, likely the only start.
https://mobile.twitter.com/CNBCnow/status/1241051728604250112?s=20
Andrew Yang ran for the Democratic Nomination for President. He did not gain much traction with a platform of a Freedom Dividend (a nice way of saying Universal Basic Income).
A few months ago, his ideas were rejected. Now, they are being readily embraced. While I understand the danger of technological unemployment, putting more people under the control of the government is not healthy.
With the mania surrounding Coronavirus, we can see an explosion in the authoritative state. Countries around the world are making a major power grab. Dependence upon the state is only going to increase through all this.
One could make the case that the elites knew things were collapsing. Their hold on power was slipping away. Central banks are being proven to be completely impotent since they followed a misguided theory for decades.
Technology is spreading further out creating a situation where centralized control was going to be rejected. Now, when people are scared into buying cases of toilet paper, they will happily exchange their freedom for safety.
Think this too far out? Just look at the headlines the media is pushing out there.
A lot of this is going to play out in Europe. The European banking system was on life support before this and most in the investment world knew that. It is why the Repo markets started to freeze in December. Even the banks did not know who has exposure to Europe, thus not trusting each other.
Panic is an ideal situation in which to trounce individual freedoms.
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