Why does the following sound so familiar?
The novel coronavirus has already had a significant impact on the global economy, which will worsen if the outbreak and the shutdowns designed to contain it continue for very long. But it’s only an accelerant: If not Covid-19, as the disease caused by the virus is known, something else would have started the conflagration. Shortfalls in revenue and cash flows, caused by the shutdowns, have simply exposed the vulnerabilities of a structurally unsound economic and financial system.
Well, I mean, really, um, er … it might, you know, not necessarily be the, uh, the um, the virus thingy…
Structural instability and systematic failures. Why does that sound like what I’ve been saying for a few years now? Oh, because it is the same thing. I just noticed a long time ago. There really needs to be hell to pay, but, judging by what passes for people these days, there’s nobody capable of collecting.