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Countries Risk Bankruptcy as Government Debt Set to Skyrocket

Countries Risk Bankruptcy as Government Debt Set to Skyrocket

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Unprecedented economic measures by governments across the world appear to have had little result as a brief respite for bitcoin gave way to another fall while oil has fallen to $25 a barrel, an all time low, amid government restrictions on travel within countries and between countries.

Dow Jones has dropped a further 3.20% at the time of writing as California goes into a near total lockdown with a police department there apparently planing to use Chinese drones for surveillance of public gatherings.

Britain is largely closing down too, with Boris Johnson, the British Prime Minister, stating cafes, bars and restaurants, as well as nightclubs, theaters, cinemas, leisure centers, and gyms, are to be asked to close from tonight.

People can go for a run or for walking the dog with the measures focused on stopping or significantly decreasing social interactions in gatherings or confined spaces.

The health advisor even encouraged the public to take their children out for exercise as long as they are just with their parents and do not interact with others.

The key point thus being not house self-arrest, but no social interaction, because this is transmitted through fluids, so when you speak to someone or when you’re laughing next to someone, you know we’ve all had those cases of unwanted and unintentional, but noticeable, exchanges of fluids.

The American health advisors seem to be of the view this isn’t airborn, in that it’s not traveling through the air and spreading everywhere although if there is a sneeze some parts might be too light to fall straight to the floor, but that’s for a few minutes.

According to the evidence, this is transmitted basically through social interactions, people shaking hands or talking to each other in close proximity or worse, all sweating in the club or partying shoulder to shoulder.

Thus the suggestion seems to be that it’s not quite the outside that is a ‘threat,’ but the interaction with people, whether outside or inside, as those people might have this and might not even know it.

Public transport however will be kept open, but the tube and busses are the most efficient spreaders as one cough and everyone has it, so they are to remain open only for critical travel, with the metro authorities stating they are to close some stations.

Fear and Hope

Trump is apparently feeling optimistic about a new potential treatment based on a drug used to cure malaria which Trump said from what he has seen he thinks it will work.

His health advisor said the evidence so far is only anecdotal, but they’ve changed the law so people who might have no hope can try somewhat experimental treatments that haven’t gone through the usual process of lengthy trials and so on.

This hydroxychloroquine, especially combined with azithromycin, is safe according to Trump because it has been around for decades and all drugs have side effects but according to his health advisor those can be addressed.

“Nothing to lose,” the president said, with more data obviously needed before we know whether it does work or not, but the United States has ordered one million of these drugs.

If it works it’s a game changer, according to the president, with rumors of a potential cure going around for months now.

The British are not talking about cures in their daily briefings, except for a potential cure for the economy as Rishi Sunak, the new chancellor, announced measures that he described as “unprecedented in the history of the British state.”

That includes a grant for any and all businesses to cover 80% of wages up to ?2,500 through what they are calling a corona scheme.

This is to be administered through HMRC with it to potentially kick in early next month.

There were also some measures to defer some tax payments, and for the self-employed some relaxing of some requirements for certain benefits, in addition to some small support for renters.

There was no additional support for those on zero hour contracts, this being generally young people who are not quite self employed and are not quite salaried with pubs and the like being a big sector where such ‘informal’ work takes place as students for example spend the afternoon working as a waiter and the like.

Yet the grant to businesses that employe salaried workers was unlimited, with the key message being keep them in the books so that activity can go right back to normal as soon as corona clears.

Bankrupted by Flu?

No number was given regarding just how much the mainly young taxpayers will fork off for this significant cash splash, but you can imagine it would be a lot as probably all industries have been affected.

Airlines of course, cruises, and the travel industry, would be one big recipient of this cash grant for salaried workers.

The car manufacturing industry and the manufacturing industry in general, unless they have robotized and so can keep reasonable distance between workers, would be another big receiver you’d think.

The shops that have closed, but also pretty much every industry even publishing as advertising rates plunge, art and the like, concerts, singers.

For the latter we usually have in mind the big celebs, but there are plenty who love it enough to just try and get by, but now probably can’t.

The entire economy basically, every single sector and every single household, has been hit, with unemployment reaching record levels in China as it now tries to get out of this.

In UK, record levels of debt might be on the horizon as this massive temporary COMMUNISM is to be financed through the gild market, as in usually banks but also others lending money to the government.

Money that will have to be paid back, and with interest, although interest rates are at 0.1% in UK but that’s for now as just a couple of years ago fed went from 0.25% to 2.5% in a few months.

The millennials, already in so much debt due to student loans and wages not keeping up, will have to pay this vast new debt in the years and decades to come.

Porcue Lamore

It is not clear just what millennials have done to anybody that they have to go from crisis to crisis without any respite as the banking crisis now gives way to… well, we don’t even know.

Everyone however expects this to be worse than the banking collapse, and we know what happened then with revolutions and countries going bankrupt and states going bankrupt.

That arguably however was partly fueled by the anger against the Iraq War, but just a few weeks ago there were global revolts across the globe as people got angry about discriminatory laws that favor the rich who got far richer while the middle class shrank and shrank.

A middle class that might now shrink further as it bears this huge burden of paying vast amounts of interest on debt primarily owned to bankers who get the so called fiat block, instead of the government and thus the people getting it.

Some maybe remember a time when it was widely proclaimed this debt system is superior, as some might remember a time when journalists asked whether Karl Marx was right in his analysis, to their conclusion that he was.

Now at the beginning of all this, and as Marx leads the economic policy response of governments across the world, you do have to wonder how previous generations could have possibly found it satisfactory to continue operating on a governance system that appears to be unable to operate at all every precisely ten years.

And although it is convenient to say that in this case it is the Chinese government that has fully failed, it is also perhaps convenient to wonder how our massive health bureaucracy has not come up with a cure in decades.

We’re all in their arms so naturally no one wants to raise pressure there, but they are also performing a function, as part of a system, and that system here has clearly failed completely in an atmosphere where you can’t even question because now it is raining and we have to get the buckets out as it obviously is not the time to ask why they did not sort out that hole in the roof when the sun was shining.

Cuts will be the refrain from the left, commie health service fallen victim to the problem of no incentives which we tried to address but the left prevented us, will be the refrain from the right.

While the refrain from independents will probably be the fact that governance, as it is currently operating, has failed once again.

How do we have most of our medicine production in China and we didn’t even know about these people falling ill starting December 1st, although some say even earlier in November maybe.

How were we looking at what was happening there without having a clue of just what was happening.

How are we looking at what is happening here and still have no clue of just what on earth is going on save for that taxpayers are being asked to pay vast communist level sums because about 20 otherwise ‘healthy’ 90 year olds have died.

Are we basically to become communists now, authoritarian communists, with property rights but at the whim of the ‘elected’ who in Britain next week are to demand absolute power that even kings would have not dreamed of.

Are we to become China? And we say become, we mean are we to formalize this authoritarian system of control where a select few mega companies under the choice of influence from the government run almost all things in a monopolistic way, while still allowing for less relevant and generally small private enterprise.

Basically is our governments’ response to the revolts of a few weeks ago the formalization of what these governments were criticized of?

By the day they extend the window of potential terror. First, a couple of weeks and over. Then, two months. Then, 12 weeks. Now, some are suggesting 18 months, presumably until perhaps forced mass vaccination as friends become gestapos under the premise that by simply being, you might somehow kill others.

Debate, an arcane premise now under the chorus of hyaenas. Trust the health service which so fully seems to have failed, trust the government which seems to have failed double, is the unchallenged refrain over the corpses of 20 men and women of 90 years of age.

Out with the terror of Arab nationalists, in with the ‘Chinese virus,’ as the machine seems so utterly keen to protect itself above all else, even at the expense of all that live.

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