The „Second Wave“ is sure to come… in business and on the streets
By Ernst Wolff.
For about a week, the mainstream media and numerous top politicians have been trying to prepare the public for a so-called „second wave“. There are already threats that it could require a reversal of many relaxations and renewed restrictions.
Although it has long since become clear that the new corona virus is not nearly as dangerous for healthy people as predicted and although it would not be difficult, based on the experience of the pandemic, to effectively protect people at risk even without adverse consequences for the general public, fear and panic are again being stirred up against all these findings.
Anyone who asks why this obviously absurd behavior is happening should take a look at the first wave. This wave has never reached the catastrophic proportions predicted by politicians, scientists and journalists. Nevertheless, fear and panic were systematically stirred up and a lockdown was ordered, which brought the entire economy to a standstill.
As a result, millions of people lost their jobs and many their livelihoods. In addition, the restriction of health care and the postponement of hundreds of thousands of operations, as well as the reaction of mainly elderly and lonely people to the panic-mongering, caused considerable and avoidable damage to health.
At the same time, however, a small minority was able to profit enormously, first from bets on falling stock prices, later from rapidly rising markets and then from speculation on the decline of a host of medium-sized companies that will be available for sale at ridiculous prices in the foreseeable future.
Although politicians could have prevented this orgy of enrichment at least in part, for example by banning short sales or share buybacks, they have done nothing of the sort.
Instead, it has used the lockdown to make huge sums of taxpayers‘ money available to those people who have earned billions in profits in recent years.
Here is just one example: The car manufacturers Daimler, BMW and VW, which have made a total profit of 237 billion euros over the past ten years, will receive a cash injection of 50 billion euros coming from taxpayers‘ money, plus a cash gift of 6,000 euros for each electric car sold in the future.
The fact that the public has accepted this redistribution largely unchallenged is probably due to the fact that many people have been put into a kind of shock state by the panic-mongering and that, despite all the bad news, a large number of them still hope that social and economic conditions will return to normal after the pandemic.
This, however, is a huge mistake that will become apparent in the coming weeks and months. Many unemployed people will not find new jobs, and many short-time workers will find that there is no room for them in their company. Masses of small businesses will go bankrupt because their businesses are slow to get back on track after the lockdown and the banks are refusing to grant them loans. But also larger companies will suffer huge losses due to sales difficulties, will no longer be able to service their debts and thus trigger a chain reaction in the financial sector.
Overall, the economy is facing a debt avalanche of gigantic proportions, which will force the central banks to intervene again and again and at ever shorter intervals to prevent crashes on the financial markets. However, the money that they have to create from scratch for this purpose will, for the most part, not flow into the real economy due to the lack of demand, but will once again flow into financial speculation, and will lead to the global financial casino turning even faster than before.
In order for central banks not to lose their credibility completely, the artificially created funds must be at least partially balanced. And there is only one way to do this: By cutting corners in other areas… Past experience, especially the euro crisis, has shown which one:
We are about to see the most severe austerity programs we have ever seen. And as a result, more and more people will be driven into poverty, hunger and despair, and that in turn will drive many of them onto the streets.
The demonstrations we are witnessing at the moment are only a bland foretaste of what we can expect when the „second wave“ occurs – the second wave of an economic collapse, whose foundations have been laid by the lockdown and against whose social consequences politics knows only one remedy – the renewed fomentation of mass hysteria in order to be able to control and discipline us all in the coming weeks and months with even harder measures than before.
Thanks to the author for the right to publish.
Image source: SergeyIT / Shutterstock
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