/biz/ - Business & Finance

The joggers are strategically wise to defund or even abolish the police.
When the first round of post-corona eviction/foreclosure notices come, these riots will look like a hippy drum circle.
It will take nothing short of martial law to enforce the mass evictions.

Before the crisis, we had about 2 million evictions a year. Forcing about a 3rd of the workforce into unemployment for months on end isn't just gas on the fire, it's radioactive gunpowder.

Don't let the soothing brrrr sound of the money printer fool you. It's the sound of money that doesn't exist, but must be repaid with money that does exist. The only way to pay for money that doesn't exist is to raise prices (inflation).

But labor has very little say over how much they work for. They will have even less say when they're all competing for what few jobs will be available post-corona (deflation).

So the cost of goods inflates, while the cost of labor deflates. Overpriced goods that underpaid consumers can't afford go out of production.

This is a recipe for an absolute decline in our standard of living. Even if you become a millionaire, you will not have access to the same wealth of goods and services we have today.