>The economy is mostly imaginary... Unfortunately this is also true about the "assets" that reflect retirement accounts, pension funds, bonds and savings of al

>The economy is mostly imaginary... Unfortunately this is also true about the "assets" that reflect retirement accounts, pension funds, bonds and savings of all kinds. These are basically promissory notes to be paid by the future productivity of the "economy". If the economy doesn't grow, or if contracts, these promissory notes cannot be repaid which either means defaulting or printing money (hyperinflation). Either way, all kinds of people with "savings" and paper assets (which many depend on to survive and/or hope to use to retire some day) will be wiped out. >If we could somehow actually shift the focus to making sure basic needs are met first, like all basic needs, then I don't think the economy would be seen as something to discuss. The above is why it isn't as simple as just figuring out what people need today and shifting production around to take care of basic needs, unless you plan on zeroing out all debts, savings and paper assets (which won't be popular with people who have savings and paper assets). If the system is teetering on the edge of total collapse, however, this might be unavoidable (some might even call it "the great reset").