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You don't understand how putting the brakes on the world wide economy for one or two years would lower earnings?
by empath75 7y ago
You don't understand how putting the brakes on the world wide economy for one or two years would lower earnings?
- adrianN 7y agoI'd expect a drop slightly larger than the expected loss of life, not the craziness that's currently going on.
- throwanem 7y agoThe problem is precisely that no one knows what to expect.
- ceejayoz 7y agoYup, and a substantial number of people will handle that by going "I'm taking allllll my money out".
- empath75 7y agoI'm not sure why loss of life would be particularly relevant since almost everyone dying was out of the work force anyway.
- adrianN 7y agoThey'd still be buying things.
- empath75 7y agoIf they're not working, they're not producing wealth, they're living off a pension or savings, and in either case that money doesn't evaporate, it goes to someone else who will spend it. Buying a widget doesn't create a widget -- someone building it does. The labor force not working is what's going to cause the decline in GDP, not retired people dying. I'm not saying it's not bad, it's obviously horrific, but I think the deaths themselves will not overly impact the economy.
- adrianN 7y agoPrinting money also doesn't create wealth, but central banks seem to think that it's good for the economy.
- rsynnott 7y agoWell, for instance, most airlines will probably go bankrupt. It's not just a case of "we can't sell to these dead people"; everything is kinda broken right now.