The Silver Lining of the COVID-Caused Recession is Supra-Economic

We have to recognize the COVID-caused recession (and help others recognize it) as a reprieve for the ecosystem; the stage upon which tomorrow’s economy is set. The healthier the ecosystem, the healthier the economy to be sustained. Why race to tear it all up again as soon as we get past the peak of the pandemic?

County Sustainability Group

COVID-19 has done in a deadly way what steady-state economists would prescribe in a healthy way: putting the brakes on a runaway economy. In fact, the pandemic has slammed on the brakes and jammed the GDP gearstick into reverse. It has ushered us into a recession that will be pronounced and protracted. In a COVID-caused recession, it’s nature at bat, not the Fed.

In these dark times, any source of comfort is welcome. Steady-state economists offer one of the only economic comforts to be found, a bona fide silver lining that warrants inspection by the mainstream media, public, and policymakers. There are three qualifiers. First, the silver lining is mostly macroeconomic, not micro. In fact, it is so big-picture we might call it supra-economic as it transcends the standard economic indicators. Second, the comfort it provides will be palpable primarily to younger generations. Third, it may take a paradigm shift…

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13 thoughts on “The Silver Lining of the COVID-Caused Recession is Supra-Economic

  1. The writer of this piece is clearly not honest. The banks have been being bailed out to the tune of 60 billion plus a day since last September. Before this last Monday they had received 3 trillion in repo loans and on Monday received another 1 trillion. If this so called stimulus package passes they will receive another 2.4 trillion over ten years. The markets were crashing not because of a runaway economy…but rather….the deregulation, massive tax breaks, derivatives, and a host of other fictional accounting methods that allowed them to grossly overstate their stock worth. The stimulus package will in actuality cost more than 7 trillion, the bulk of it going to corporations and huge banks. and guess who is going to foot the bill for all of this government largess? I think that would be me and you.

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    • All this is true, ppjg, but in my experience they bail out money they give to banks rarely ends up in the productive economy. It mostly goes to CEO salaries and share buybacks. I think the essay refers to the productive economy, which is largely devoted to consumer items – a massive amount of “stuff” the majority of us neither want or need. I think the author of the article is referring to the slowdown an overheated consumer economy.

      Here in New Zealand, which has been on lockdown for a nearly a week now people have been comparing daily life to the fifties, where life was much more leisurely and people spent more time with their families. They like it and don’t want to return to the way things were before.

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  2. Good article. I’m a self-isolater by nature, so this lull in Humanland’s frenzy is refreshing. Of course there are many pieces to the puzzle, but I interpret this coronavirus scare as a manufactured crisis to shore up government relevance. It seems to me the Police State, in the form of the New World Order, is desperate to maintain control of the narrative. In the US it takes the form of Sugar Daddy government, which just created $2 trillion in government spending to prop up the debt-backed economy that is suffering for lack of inspiration.

    I agree that slowing down is probably the healthiest thing a person or a nation can do for the planet as a whole. The best things in life truly are free. It’s time we appreciated that.

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  3. I’m inclined to agree with you that the hysteria over coronavirus is manufactured, Katherine. From what I read, even in Italy where the death rate has been highest, it’s still lower than a normal influenza season. Also it seems that many of the coronovirus tests they’re doing are non-specific for COVID-19 – apparently a lot of benign coronviruses are giving false positives. It seems like the decision to crash the economy was intentional. From everything I see it looks like a classic State Dept/CIA regime change operation – “making the economy scream” – as they say. The only explanation I can think of is that it’s some kind of Deep State operation against Trump (who is despised by the CIA) – but as far as I can see it has backfire – as his popularity seems to be increasing.

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    • What gave away the massive misdirection for me was how swiftly corporations, “experts”, businesses and churches jumped wholesale on the propaganda bandwagon, all of these contributing widely to the fear pandemic. Now it’s reached a point here if you speak out saying you don’t buy the hype, you are a traitor. It’s like being in a time of declared war and saying that the targeted country isn’t the enemy. Now that the sheeple have invested a huge amount of emotional energy into buying the propaganda it will take even more political and mass (fake news) media propaganda to try and put the wheels back on the wagon. What the hoi polloi will not notice is that the “wheels” will have a different configuration than they had and the wagon will roll differently. Many will no longer be able to get on-board and become increasingly marginalized. One more successful political/corporate/bankster pandemic and the marginalized will be in camps and still the rest of the sheep will not notice, or pretend not to.
      First they came for the socialists, and I did not speak out—because I was not a socialist.
      Then they came for the trade unionists, and I did not speak out— because I was not a trade unionist.
      Then they came for the Jews, and I did not speak out—because I was not a Jew.
      Then they came for me—and there was no one left to speak for me. (Martin Neimöller)

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  4. Although seeing the environment recover is really heart-warming, I feel it should not be celebrated especially with thousands of innocent people dying daily. Saving our environment at the cost of lives is not something that our society would ever encourage and the idea really treads along the lines of Eco-Fascism.

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    • We have peopled and “civilized” ourselves into an irresolvable conundrum, Gupta. I agree with you that killing people to save the environment is environmental fascism. Doing nothing at all will kill even more. Continuing as we have, that will kill the most. There is no “winning” anymore. We past that fork in the road decades ago. Now we will endure the agony of loss, defeat, anger and shame… and we will die, and continue dying until some sort of natural balance is reached or entropy kills everything off, just as on Mars. (I hope I wrote your name correctly – I followed Stuart’s example)

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  5. I totally agree, Gupta. Unfortunately the millions in the Third World who are already dying of climate related causes (drought-related famines, vicious hurricanes, floods, landslides, ground water salinization, etc) are invisible.

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