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The Economy Post Virus


btb

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At the moment we're in the middle of the pandemic and apart from observing the hygiene & social distancing rules there is little anyone can do apart from hoping they and their loved ones will pull through.

At some point maybe 12-18 months down the line however the economic bill will have to be paid and my fear is that the burden will fall on hardest on those with least ability to cope with it.

I work for a large bakery (think Dvorak New World Symphony) and we're working extra shifts atm  but I know others are unable to go to work and that the situation for "gig" workers is particularly bleak. I look back to 2008 & The Banking Crisis of 2008 & how the cost was bourn heaviest by those with the least ability to pay and worry that the 99% will again foot the bill. 

Edited by btb
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Bakery staff in tesco were getting punted / reduced hours before this all happened.
They are now carrying on like normal, ( loose stock not being put out like single rolls , doughnuts) but aye after all this is gone or whatever they will still get punted and hours cut for some .
So aye shite news

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At the moment we're in the middle of the pandemic and apart from observing the hygiene & social distancing rules there is little anyone can do apart from hoping they and their loved ones will pull through h.
At some point maybe 12-18 months down the line however the economic bill will have to be paid and my fear is that the burden will fall on hardest on those with least ability to cope with it.
I work for a large bakery (think Dvorak New World Symphony) and we're working extra shifts atm  but I know others are unable to go to work and that the situation for "gig" workers is particularly bleak. I look back to 2008 & The Banking Crisis of 2008 & how the cost was bourn heaviest by those with the least ability to pay and worry that the 99% will again foot the bill. 


Think that's all pretty much assured. There seems a lot of excitement and novoloty about working from home (joking about doing limited to no work) and self isolation, but every missed day or government handout isn't free. Everything that is happening today, everywhere will have to be paid for.

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A thought I had the other day - what happens on the day the government go 'ok, it's legal for landlords to evict people again!' or 'all those rough sleepers we've put up in hotels can be turfed back onto the streets again!'. You'd like to think this may lead to an assessment of whether 'normal' really is desirable to return to, but we've got the Tories in charge so it's hard to see happening.
Normality isnt just the natural state to which we will gravitate back. It is the state that various actors will drive us back towards, because it is where the most profit exists.
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52 minutes ago, ThatBoyRonaldo said:

A thought I had the other day - what happens on the day the government go 'ok, it's legal for landlords to evict people again!' or 'all those rough sleepers we've put up in hotels can be turfed back onto the streets again!'. You'd like to think this may lead to an assessment of whether 'normal' really is desirable to return to, but we've got the Tories in charge so it's hard to see happening.

People will go back to not giving a single f**k about the NHS, the elderly living in isolation or the homeless, too. 

It's just the way of the world. We are all heartless arseholes.

Edit : unless we can make a tiktok, Facebook/Twitter post or a Snapchat about it, obviously. Then we really care. 

Edited by Dele
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Guest Moomintroll

One thing I'm quite looking forward to is the absolute fusillade of low ranking local government type Tories saying on Facebook etc what the rest of them think on these kind of topics.
Not all about Tories Mixu, although I do agree that the extremists are spectacularly outing themselves here. The extreme left wingers are doing likewise
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They'll bung the nurses and doctors a wee bit extra pay after all this to show "they really care about the NHS" but for the rest of the public sector it will be 1% pay increases for the next decade because "we need to pay for the emergency measures and couldn't possibly tax Starbucks, Amazon, Branson, Ashley etc etc".

In the short term there may well be a bit of inflation as people go on a spending spree- booze, holidays, fancy restaurants after being in lockdown for so long.

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The best outcome would be a new method of funding public services. The Tories committed to a minimum of £200 billion spending without mentioning borrowing or taxation. We are now in a situation where the central bank directly funding public spending is reality rather than just a fringe theory.

https://www.theguardian.com/business/2020/mar/28/coronavirus-bailouts-need-to-be-paid-back-or-do-they

This has to be the number one political priority after the crisis. If the public accept lies about "no money" requiring austerity it will be down to sheer stupid ignorance.

 

Edited by Detournement
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3 hours ago, Detournement said:

The SNP will need to find an alternative currency plan because the current plan to use Sterling outside the UK has been blown out the water.

I've never really seen what the problem might be with saying  that Scotland might use the euro, except call it the Scottish pound. 

Similarly, in Ireland they could return to the punt, the euro in disguise

In France the franceuro..

Gemany..., the Reichmark, sorry.., the Deutchmark etc.

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On 28/03/2020 at 12:45, G_Man1985 said:

Bakery staff in tesco were getting punted / reduced hours before this all happened.
They are now carrying on like normal, ( loose stock not being put out like single rolls , doughnuts) but aye after all this is gone or whatever they will still get punted and hours cut for some .
So aye shite news

Asking how many hours and which shifts they're willing to cover is what I heard, not great having your back against the wall, even worse if you're facing a family crisis at the same time. 

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3 minutes ago, G_Man1985 said:
5 minutes ago, ayrmad said:
Asking how many hours and which shifts they're willing to cover is what I heard, not great having your back against the wall, even worse if you're facing a family crisis at the same time. 

Its this with some redundancys also. They couldn't give a f**k the now.

Aye, those that are willing to bend the most will be least likely to get their arse booted out the door, longevity and ability will have little significance. 

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4 hours ago, Granny Danger said:

Of course we in Scotland do have an alternative.

Only if we're allowed a choice...which we wont be.

3 hours ago, Detournement said:

The SNP will need to find an alternative currency plan because the current plan to use Sterling outside the UK has been blown out the water.

Has it? How has it been blown out the water? I'd prefer a completely independent currency but there's nothing stopping us using the pound. 

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1 minute ago, GTG_03 said:

 

Has it? How has it been blown out the water? I'd prefer a completely independent currency but there's nothing stopping us using the pound. 

That's great until another virus hits and the independent Scottish Government have zero fiscal tools to fight it. 

Boris and Sunak can create as many pounds as they want at a keystroke to pay everyone's wages. Holyrood couldn't do that using Sterling. 

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