Success: The Coming Mega-Depression

What will be next? Is a question on many people’s minds. Very likely the world will never be the same again. That might be good, or not so good, depending on how we look at this disastrous, “pandemic” which by all serious accounts does not deserve the term “pandemic”, that was unwittingly attributed to the SARS-2-CoV, or 2019-nCoV, renamed by WHO as COVID-19.

On March 11, Dr. Tedros, WHO’s Director General called it a pandemic. This decision was already taken by the WEF (World Economic Forum) in Davos, from 20 -24 January 2020, when the total COVID19 cases outside of China were recorded by WHO as 150. On  January  30, the WHO Director General determines that the outbreak outside of Mainland China constituted a Public Health Emergency of International Concern (PHEIC). This was a first indication that there was something not quite right, that there is another agenda behind the “outbreak” of the COVID-19 disease.

On March 26, in a peer-reviewed article in the highly reputed New England Journal of Medicine (NEJM), Dr. Anthony Fauci, Director of NIAID (National Institute of Allergy and Infectious Diseases, one of the 27 institutes and centers that make up the US National Institutes of Health – NIH), likened COVID19 to a stronger than usual common flu:

If one assumes that the number of asymptomatic or minimally symptomatic cases is several times as high as the number of reported cases, the case fatality rate may be considerably less than 1%. This suggests that the overall clinical consequences of Covid-19 may ultimately be more akin to those of a severe seasonal influenza (which has a case fatality rate of approximately 0.1%) or a pandemic influenza (similar to those in 1957 and 1968) rather than a disease similar to SARS or MERS, which have had case fatality rates of 9 to 10% and 36%, respectively.  nejm.org

This scientific assessment in the New England Journal of Medicine has not prevented Dr. Fauci from saying exactly the opposite, when interviewed by the mainstream media: see below.

In the meantime, other high-ranking scientists, microbiologists and medical doctors from all over the world, are questioning the draconian worldwide shutdown because of the corona virus. They all say, these draconian measures are not necessary to contain a pandemic with a relatively low fatality rate.

Even in Italy, if the counting and accounting was done more carefully, more according to true statistical norms, the fatality rate would be perhaps 1%, or less. On March 23, Italy’s civil protection chief Angelo Borrelli, told La Repubblica newspaper, it was credible that for every officially reported case, there may be at least 10 infected cases not reported, asymptomatic cases, not requiring a doctor’s visit. If this were true, the actual mortality rate would in a stroke become one percent instead of ten percent.

What the world is experiencing, resembles a well-planned worldwide declaration and implementation of Martial Law with socio-economically disastrous consequences, far worse than the disease itself. Nobody moves. The economy comes to an almost standstill.

This begs the question, what is behind it, and what comes next?

Let’s first look at a not-so-good scenario.

Al-Jazeera reports on 2 April that Global Coronavirus cases top 1 million with 50,000 deaths. Politico said on April 2 that only two weeks into the corona lockdown almost 10 million workers in the US are without a job.

“The total job losses in just two weeks — almost 10 million Americans — amounts to a staggering, sudden blow to American workers never seen before in the U.S. economy. The labor market in the coming weeks could blow past the 15 million jobs lost at the peak of the 18-month Great Recession from 2007 to 2009.”

On March 31, the FED predicted an alarming forecast: 32% unemployment and 47 million out of work for the next quarter as the coronavirus continues to spread. Bankruptcies, especially of small and medium-size enterprises may be spiraling out of control within a month or two. This would have a further domino effect on unemployment.

Goldman Sachs – GS (on 20 March 2020)

“sees unprecedented stop in economic activity, with 2nd quarter GDP contracting 24% Goldman Sachs economists forecast a historically sharp and swift recession, with second-quarter GDP sinking a stunning 24% after a 6% decline in the first quarter.” GS economist predict a further GDP decline of 5% in the second quarter 

“Home lenders brace for up to 15 million US mortgage defaults.” So, says Bloomberg (April 2), adding that “Mortgage Defaults Could Pile Up at Pace That Dwarfs 2008”. Mortgage lenders are preparing for the biggest wave of delinquency in history

All of this is already happening. These figures cover only the United States, and do not yet account for Europe and the rest of the world. Such figures for Europe are not yet available, but predictions are that they may be similarly grim.

Looking at Asia, except for China, Africa and Latin America, they have a large informal sector which is difficult to control, but which most certainly is slipping through any flimsy social safety net countries may have.

Reliable statistics are not available. But “guestimates” have it, for example in Peru, that in good times, the informal sector may amount to as much as one third of the economy. In hard times, like now, possibly up to 50%, or even higher.

The picture of a coming mega-depression, that never existed in recent history, may continue as many of the bankrupt small and medium size enterprises – including airlines, tourist industries – et al, will be bought up by huge monopolies, that already exist, (e.g.Google, Amazon, AliBaba and more). Mergers of gigantic proportions may take place. It may be the last shift of capital from the bottom to the top in our era of civilization as we know it….

https://www.globalresearch.ca/corona-aftermath/5708875

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