Quote:
Originally Posted by esquire
Because no economic system can withstand a prolonged global pandemic where huge numbers of people aren't productive. A strong social safety net is a good thing but the notion of "printing money" endlessly to sustain it just isn't going to work when there is no value to that money.
Governments provide a good temporary backstop for situations like this but there is absolutely no way that it can go on forever. Which is why you will see some very difficult decisions being made if this matter isn't resolved in about 6 months time.
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It's a crazy time though. I think the switch to turn the economy back on can be turned pretty quick. The demand will be almost immediate.
It's also a crazy time in finance. People plow their safe money into treasury bonds no matter how much money is "printed." Inflation is not happening as it should based on how much debt sovereign nations are creating. Interest rates are negligible. How does it all end? I hope it ends a few lifetimes from now because I don't want to know.
Alberta is going to be it's own problem aside from the pandemic.