How can the economy recover best after CV19?

Disillusioned democrat

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There's no denying that globally CV19 will change the economic trajectory...appropriate government policies are forcing millions out of work, healthcare spending will skyrocket and consumer based economic activity will stall.

Governments need to do this to ensure their citizens survive...citizens who are consumers, customers, etc., of global corporations. Is there any logic now for governments globally looking to the large corporations to fund the recovery? Could CV19 actually become a catalyst for real economic reform, or will governments just do what they always seem to do and tax the citizens more?
 


tsarbomb

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There will be a move to ensure that more key components for goods that have medical applications will be made closer to home.

I'd say many people will continue to work from home when this all blows over. More children might be homeschooled too.
 

blinding

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25% of the Super-Rich / Top Politicians should be Euthanised ( by some sort of lottery ) and their wealth redistributed.

This should,not be done out of malice, but rather as a warning that in the future these People are not doing a good job that their must be affective Repercussions i.e. Not just going off with loads of cash even though they have been fooking up the World.

They just won’t do better without some sort of Sanction.
 

midlander12

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I'm obviously not the first to say this but the issue of debt will have to be revisited - it was never resolved after the Great Recession and much of the recovery was funded anyway by 'quantative easing' and other money-printing schemes. Countries like Spain, Italy and Greece were already in a very ropey state before this - others like Ireland will also be facing renewed deficit crises due to ballooning welfare costs. They will never get back on their feet without a debt write-off.
 

SamsonS

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The fallout will be widespread and long lasting. After the Financial Crash we started to recover when the rest of the world started to recover and compared with some our economy roared back. This one may be different , and I expect a certain amount of protectionism to come into play and that will impact on our FDI, maybe not startight away but on our ability to attract new FDI to replace what we lose.

Obvioiulsy this year we are going to run a large deficit where we thought we'd have a surplus and our rainy day fund has been used up already.
By the time the CSO stats on employment come out we'll have lost 200,000 jobs. A more than doubling of the numbers unemployed in 1 month. That is a staggering figure, close to 10% of workers could have lost their job in a single month.
 

caledhel

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We'll see soon if they've cancelled the housing crisis.
 

Sweet Darling

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There's no denying that globally CV19 will change the economic trajectory...appropriate government policies are forcing millions out of work, healthcare spending will skyrocket and consumer based economic activity will stall.

Governments need to do this to ensure their citizens survive...citizens who are consumers, customers, etc., of global corporations. Is there any logic now for governments globally looking to the large corporations to fund the recovery? Could CV19 actually become a catalyst for real economic reform, or will governments just do what they always seem to do and tax the citizens more?
It started in a commie country, so maybe they need to reform
 

Lumpy Talbot

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No
It is a curious irony that a crisis should come along that emphasises how disparate national cultural characteristics are. While there are undoubtedly great collaborative efforts going on among health professionals across borders, the ramshackle nature of international decision making in the face of a global challenge has been interesting.

It appears that reports of the death of the interest of the nation state in favour of cross-globalism and free movement may have been exaggerated.And curiously the Brexit debate is sidelined in the face of an international threat.
 

Sync

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It appears that reports of the death of the interest of the nation state in favour of cross-globalism and free movement may have been exaggerated.And curiously the Brexit debate is sidelined in the face of an international threat.
Counterpoint (With all the provisos that the world is still in the middle of the forest fire and we're talking about what tree seeds should be sowed next year):

Part of the problems in Europe and the US have been the federalised, different ways they've reacted. Every country and state making their own decisions on gatherings, work places, schools closing, competing against each other for respirators, vaccines etc.

China bought the west a month by putting in place authoritarian restrictions on personal freedoms and carrying out an absolute lockdown on 60 million people. Korea did similar. As did Singapore. As did Hong Kong.

There's an argument to be had that a stronger, more centralised planning from the US and Europe could have made things better. Locking the EU and US down on the same terms as China did would have really helped. Now there's another discussion to be had about if the balance between freedom and security is to be had, but I've seen absolutely nothing to make me thing that if Ireland or Italy had been left to their own devices they'd be better off.
 

Sync

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But I guess to DD's point: Yes, corporation tax increases, wealth tax increases will all be on the table. As they should be. This is an era-defining event. So treat it as such. If the state wants to reclaim land (Unused farmland, investment sites, churches) to use for housing, do it. If we want to tax 10% on everything over 500k in your bank account, let's work with the EU and do it.

I think there's going to be a real swing towards high taxes on higher earners for services. Lots of debt forgiveness programmes as well.
 

brughahaha

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And Brexit hasnt happened yet ....while many SMEs struggle through this Brexit will probably be a bridge too far.

Absolutely no attempts were made to change the obvious discrepancies in the last crisis ...Over dependance on Multinationals and Dubious profit washing, Little or no incentive for SME and indigenous development, and a Public service that is dated slow and inefficient with pay and pension scales that marries well with the MNC sector but is totally out of kilter with the actual economy (acting as another disincentive to innovation and indigenous development) .

This time hopefully a complete redrawing of both the Republic and its economic model (what FG promised but utterly failed to do in 2011) wil be on the cards ...SF s election points to a growing demand for that.

But tis going to be very difficult , a major downturn and recession is clearly on the way to add to our already enormous (tut tut such porkies last night Leo !) national debt.
 

omgsquared

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We all need to live a less consumptive type of life, We need to maintain a global perspective but shop, work, manufacture and develop economies based on local resources as much as possible. I have had to move properties several time in the last ten years , This has necessitated clear outs. The amount of junk, Sh--we collect is truly mind boggling..
As I am retired I intend to spend more time growing my own produce, reducing time on internet and social media, travelling less, and while not going on the 'crazy prepper rote" becoming more self reliant. Oh and also buying some more ammo for my shotgun,,
 

brughahaha

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We all need to live a less consumptive type of life, We need to maintain a global perspective but shop, work, manufacture and develop economies based on local resources as much as possible. I have had to move properties several time in the last ten years , This has necessitated clear outs. The amount of junk, Sh--we collect is truly mind boggling..
As I am retired I intend to spend more time growing my own produce, reducing time on internet and social media, travelling less, and while not going on the 'crazy prepper rote" becoming more self reliant. Oh and also buying some more ammo for my shotgun,,

Totally agree ...we seem to have a "clearout" every 6 months , problem is , its like a weed and we seem to accumulate even more useless unnecessary crap necessitating another clearout 6 months later

But unfortunately the current Global economic model is based on ever increasing personal consumption ....
 

omgsquared

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Totally agree ...we seem to have a "clearout" every 6 months , problem is , its like a weed and we seem to accumulate even more useless unnecessary crap necessitating another clearout 6 months later

But unfortunately the current Global economic model is based on ever increasing personal consumption ....
Exactly and this why we need to ask ourselves what is this thing called an economy for.. profits wealth for a few or for people and society,, How do we strike the balance.. I think since the 80s we starting losing it and since 2000 really off the rails.. Celtic tigers years a good example 200bn still in debt..
 


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