I'll believe it when I see it, tho I grant the possibility of course
different I believe, "very different" I'm not sure about, tho it depends what one means by very different
fwiw I met with my financial advisor on Thursday - at the consumer side of a large investment bank -and they're (comparatively) nonplussed by everything
do I believe in the infallibility of their quants, traders, other decision makers? of course not. especially after 2008.
but still, what everyone can agree on - it's not the apocalypse. it's not the Black Death.
I don't want to sound callous, but in "the scheme of things" - as far as radical restructuring of society - it won't kill THAT many people
(barring a mutation to a strain with greater lethality; tho of course the opposite may happen as well)
the question is, will the social and economic disruption be enough to convince enough people that some kind of radical restructuring is needed?
or - more likely - will it force some level of deglobalization, disentangling of the connected world, as it exposes the fragility of global economic networks?
things will be different, but I think it's much too soon to say how different, or in what ways
The last line is true - but look at what's happening in Europe. Mortgage and bill freezes. Universal sick pay. This will be followed almost certainly by a relaxation of EU financial regulations, possible direct payments to citizens. Rent amnesty, increased welfare, massive investment in health services, the commandeering of private interests, hotels, private health facilities Then there's the collapse of the stock market, airlines, oil companies. I wouldn't be surprised if we see temporary nationalisation of some banks, food production and various infrastructure.
The outcome, is of course uncertain, but I dont seen anyway that this wont result in a significant reassessment of a whole slew of political, social and economic assumptions.
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