The more we look into the possible long-term consequences of the coronavirus crisis, the more we see the dead-end fast approaching. A lot could happen before the end of the year. Stats for unemployment benefits look very grim.
US jobless claims hit 3.3 million, quadruple previous record….. Layoffs are sure to accelerate as the U.S. economy sinks into a recession. Revenue has collapsed at restaurants, hotels, movie theaters, gyms, and airlines. Auto sales are plummeting, and car makers have close factories.(AP MARCH 26)
The problem is that when numbers are that high, the economy cannot reabsorb all jobs lost in the last 2 months within the same time frame. That usually takes several years at the condition the economy really picks up again. But this time is different, it just won’t.
Companies that feed America brace for labor shortages amid worry about restocking stores (anchoragedailynews march 2020)
Panic buying has done too serious damage to the food supply chain and since 76% go paycheck to paycheck it is extremely likely that consumers piled further on debt to fill up their fridges and freezers for another month or so. From there what is going to happen when they completely run out of money? Sure, additional generous unemployment benefits could be enacted. But we do not think that the nation will survive another $2 trillion rescue package. Wallstreet is not going to buy it.
At some point, consumers will begin to look at their yards differently and ponder ideas to grow food as the word of mouth gets louder.
Our prediction is that in 2021, big-ag will be in for a shock and confront its demise: while the industry will barely muddle through as their produces will remain expensive due to scarcity. Like other authors, we too agree that we’ll see food forests or city gardens maintained by their neighborhoods popping up throughout the country.
Warren Buffett on the US economy: ‘The tsunami of wealth didn’t trickle down. It surged upward’ (CNBC 2018)
At least the 1% taught the planet that without cooperation nothing works. This crisis is an opportunity for us too, and we are the 99%.
If the tsunami of wealth went upward is because the top 1% is united in their desire to dominate the world. If everybody was following individualism strictly and knew economics 101, profits would be hovering slightly above the flat line, because investors would avoid like the plague any risk that might lead to “market bubbles”. In this sense, we do not really need money if we understand the meaning of collaboration.
LONDON (Reuters) – Fresh fruit and vegetables will become increasingly scarce in Europe, suppliers warn, as the coronavirus pandemic hampers the global movement of produce and of the people needed to gather crops. (MARCH 2020)
In suburban areas, growing food and having a few chickens for eggs will remain the only solution not to starve. Maybe those stuck in the city will turn one of their rooms into a greenhouse.
On a final note, it also is our duty as activists to advise others to buy organic seeds and start their garden. We have to keep the focus so that a radical change can occur.
COVID-19: Our Leaders Are Terrified. Not of the Virus — of Us March 24, 2020
Governments will try to conceal for a little longer the fact that capitalism is entirely incapable of solving the very crises it has created https://consortiumnews.com/2020/03/24/covid-19-our-leaders-are-terrified-not-of-the-virus-of-us/
Did You Really Think Capitalism Was Going to Save You From a Pandemic?
That’s insanity, for three reasons. First, no progress is possible. People are just made to work for things they already have. So what reason is there for anyone to really create anything new, positive, life-changing? Why bother, when you can exploit people over what they should already have — which a mobster might just call extortion?… https://eand.co/did-you-really-think-capitalism-was-going-to-save-you-from-a-pandemic-41b6ac1d9a41