For the past six months and probably for at least six more our heads have been full of Coronapop. All forms of media have had their attention grabbed by the virus worldwide. The world has been on hold, We have been digging ourselves into a deeper and deeper financial hole.
Many people think we will go back to “normal” when it’s all over. Somehow we will pay all the debts off. Recovery will just happen automatically. Growth will return and we will carry on as before, as if nothing had happened.
I don’t think it will be that simple. Power has shifted from West to East. America is in turmoil in the run up to the Presidential election and regardless of who wins, they are up to their neck in debt with their equity market massively over valued. A crash will be coming sooner or later. They have fires raging, are still gas guzzling and yet Trump is still in climate change denial.
China is already flexing its muscles in Hong Kong. It will soon start pulling financial levers in other areas . It has begun to squeeze Australia. In a weakened world, who is next?
Coronapop is a temporary distraction which has made the future economic outlook worse for all but the very rich. Both individuals and countries.
The UK is in reality, a small player on the world scene even though we went into this Coronapop crisis as the worlds fifth largest economy. We have been living on past glories for far too long and now we will be much weakened by our indebted economy.
There are lessons in the Coronapop experience, which if we are prepared to face up to them and challenge some of our out-dated habits, could point to a bright new future. The key question is :- “ Are we prepared to face up to the new way and do we have the leaders to guide us forward .”
The Last Laugh Looney Party highlighted some of the issues in it’s tong in cheek review of current Government expenditure and of the bloated structure of Government, including the Civil Service. Nothing short of a fresh start on both fronts will enable us to rise from the Coronapop ashes.
So my next series of posts will chart a potential route to a better future 🤡🌈