Extremely inaccurate. Look up every recession before the Federal reserve. Or even the recession of 1920, which was over a year later and was followed by the “roaring twenties”, a period of massive growth and prosperity. The federal reserve caused the recession, but stayed out of the recovery and it lasted only a year, thanks to reduction in government and taxes. That should have been an omen to get rid of central banking, but unfortunately for us, they only got bigger and bolder.

If central banks and Fiat money would go away, most of the world’s problems would disappear. No more printing money by governments would allow the global economy to self correct, which is normal and should be allowed to play out. Life has ups and down, you can’t get rid of the downs without severely distorting the balance, only making the next down a lot worse.

In the US, the government (which includes the private Fed) have been doing this since 2001. Destroying the purchasing power of currency, and creating a global race to the bottom by all the world’s Fiat currencies.

Well, this is bottom. And they have committed to start digging deeper and redefine the bottom. For the sake of all of us, especially our offspring, let’s hope they’ve hit rock and this opportunity is not wasted to get rid of this ridiculous Banking system.

It's actually "only" just a few hundred million years until the Sun will have changed enough to have massive impact on our planet, including all life forms (like us, in case we would still be here, which I doubt). The atmosphere will change significantly due to increasing radiation and luminosity of our star. The balance within the so-called habitable zone that allows carbon-based life forms to exist is surprisingly delicate and does not allow significant variation in most parameters.

In about 500-700 million years, C3 photosynthesis will likely stop to work, because there won't be enough CO2 in the atmosphere, despite all climate change and rising CO2 levels we currently have, CO2 will drop significantly with increasing solar radiation over the next few hundred million years until there is not enough left to keep photosynthesis running. At some point, most plant life will be dead, which will in turn lead to a massive change in available oxygen. And then it's probably game over for any higher life form.

Still plenty of time though for recovery from the human mishap and maybe even a new try to establish intelligent life through further evolution.

Damn. I've got less time than I thought. Better start running down the gin stocks

Thank you for restoring a bit of perspective.
If we did nothing, this virus would kill about 1-3% of the people, skewed towards the aged. That was routine 'business as usual' during the middle ages.
Pepys did pretty well during the Great Plague and surely he was not alone. So life continues, just a little different.

Agreed. But we are generations of humans who simply haven't had to deal with that level of external threat, so we're more than a little slow on the learning curve. That means lots of unnecessary death and harm, not to mention doing a very big number on our health workers.

We need to help each other to learn faster.

We no longer live in those times. Plagues caused massive economic damage and personal grief & suffering. I doubt you would be so blase if you had lived then.

The timeline, a la Angela, clever Muti, is when when the infection doubling rate is every 10 days..
I enjoy my consumption of the Earth's resources as much as any privileged Boomer. Should we go on? Is there, without universal Authoritarianism another way ? I'm thinking not,
Without food, a crazy habit I've developed over my years of knocking 'round this planet, I just won't stay here any longer. So food production, not coming from China, yet!

The economic damage and personal suffering back then was similarly disproportionate. That is why people remember these plagues.
The difference today is that we have not had a real crisis for about 75 years, two full generations, so we forget how hard it really is
Fwiw, they are putting up emergency hospital tents in NYC Central Park a few blocks from my place. Blase is not my state of mind under these circumstances.

Agreed. Most of us have a lot of learning to do about a world with a higher background risk of disease, and have forgotten habits that were ingrained for many of our predecessors. It's a steep curve but the more we help each other with accurate, evidence-based information, the better.

America's finest narrow-body? Boeing screwed the pooch on the 737 enhancements. Big Time. It was a great two hour airplane. Now it carries more than a 767-200. Sardine packing for passengers...very high ref speeds and poor runway performance. I'd pick an A320 anyday over the 737!

Horseshoe crab = 600 million years.

Shark = 400 million years.

H. sapien = 250,000 years.

It ain't lookin' good. 🤔

Seniority based extinction? ;-)

Makes sense. 😁

If airlines are nationalised or put on government support for a while, I can't see stratospheric salaries and bonuses being paid to directors. Previously the main interests were shareholder return and dividends, short term thinking regarding cost cutting in order to get a bonus rather than the long term good of the company. Strip out value by selling off core assets, make the numbers look good and you'd be long gone by the time the chickens came home to roost.

Privatisation under Mrs Thatcher was a good thing, inefficient state run companies were transformed, workers could own a piece of their employer and the general public got to participate in an area previously dominated by the financial elite. Now we have a new generation of robber barons pulling the financial strings, quite happy to take all the profits when it pays off but expecting a state bail out when they come short.

Privatise the profits and socialize the costs.

Add to that the propensity for "next quarter" management thinking.

It's the American Way. 😏

@krismiler, 10/10

how we run into situation that very successfull bussiness, with profits and bonuses, and all of sudden 15 days of interuption and we are out of money. Where is reserve gone?
could you imagine house, decent one, with healty and functional family, cars, Bora Bora holidays- and they could not survive without dayli fresh cash a few days?

In France, the economy minister said yesterday that in any private business where the State has a share ( e.g Like in AF or Airbus ) and who will be applying for State financial aid, whether loan or grant, will be requested not to pay dividends to its shareholders in 2020.
Some of those companies already agreed ( incl. Airbus) but not all yet .

Elephant in the Room.
 

Sad to contemplate it but will there even be any call for PPRuNe, in six months time?

The crisis is producing a de facto nationalization of industry. With a little more time, expect rationing as the supply chains buckle.
It is truly a wonderful opportunity for a comprehensive reset of the western economies. What is missing is any indication of the desired outcome.

True when you see the condition of the UK railroad system....:\