The global economy is not something that can be flipped off and then on again like a lightswitch — duh
/
Many of us were screaming this as the lockdown loomed, but “science” and “experts” insisted we knew nothing. I’ve never believed that the people leading the world into disaster didn’t know better; they achieved exactly their desired result.
Posted this morning on InstaPundit:
SPENCER PRATT: Bombs, Burnt Beef, and the Big $20 Burrito Battle.
At some point, we will have to reckon with the fact that we shut down the world’s largest economy over the flu. You can’t do that. You can never do that. Not for global wars, not for nuclear holocaust, you never ever shut down your economy. Despite what decades of communist propaganda may have you believe, concern over the economy isn’t just vanity, it’s not greed…the economy is the proxy for our collective lives. Shutting down the economy means people die from missed cancer screenings, business owners kill themselves because their legacy family restaurant shuts down for good, people can’t afford basic human needs. We crippled the global economy and attempted to backfill the void by printing more money than had ever been printed in the history of human civilization and doled it out with alacrity. This grand experiment in universal basic income led to hyperinflation on a level that we only see in collapsing communist countries. The factories went dormant while the money printer went “brrrrrrrr”, so with too many dollars chasing too few goods, there was only one predictable outcome; prices go to the moon.
It will take decades for us to absorb and dilute the shock of the deluge of cash flooding into our economy. In 2015 in Mexico, eight straight days of torrential rainfall on Cozumel flooded the coast with freshwater. This temporary disruption of the salinity in the marine ecosystem was devastating for aquatic life, and it took years for the system to stabilize and recover from that singular shock. Similarly, it will take decades for us to absorb and dilute the shock of the deluge of cash that flooded into our economy during the government’s irrational shutdowns.
Unfortunately, this reckoning with our past mistakes is unavoidable. We can’t legislate nor print our way out of the most colossal fuck-up in the history of economic policy. No government program can unring that bell. The $20 burrito is a teachable moment: NEVER SHUT DOWN YOUR ECONOMY. EVER. The problem is, we have short memories, so nobody is going to connect the expensive burrito to the bad choices of yesteryear.
Read the whole thing.
