During covid times I heard many interesting conspiracy predictions such as the value is money will fall to zero, the whole society will collapse, the vaccine will kill 99% of the population etc. None of those things have happened yet, but can you add some other predicitons to the list?
Actually, long before covid hit, there were all sorts of predictions floating around. You know, things like the 2008 recession will cause the whole economy to collapse and then we’ll go straight to Mad Max style post-apocalyptic nightmare or 9/11 was supposed to start WW3. I can’t even remember all the predictions I’ve heard over the years, but I’m sure you can help me out. Oh, just remembered that someone said that paper and metal money will disappear completely by year xyz. At the time that date was like only a few years away, but now it’s more like 10 years ago or something. Still waiting for that one to come true…
The argument I have heard being lockdowns (moreso the duration of them) put extensive pressure on small business to shut down but allowed the large corporations to remain open, creating an effective monopoly. This created a situation where governments had also had to assist with those shortfalls so folks can survive. To do that, they increased the monetary supply which in turn devalues the currency. This causes the inflation which makes things more expensive. The government then gives out more money…and the cycle repeats.
Now, I’m not an economist but it sounds pretty logical to me. I know it came down to saving lives and I’m in support of doing that. But could we have done things in a way that didn’t put an entire generation 10 years behind? That’s a conversation worth having if you ask me.