A Z-Shaped Economy, Dysfunctional Families and Mediocre Leadership
WSJ: US economy suffers worst quarter since the second world war as GDP shrinks by 32.9%
Drop in quarterly gross domestic product comes as 1.43 million people file for unemployment benefits, a second week of increases, amid Covid-19 pandemic.
My Comment: The clever have come up with the scenario of a K-shaped recovery. The K indicates that the rich and privileged will thrive while all others suffer a prolonged economic decline. That’s one alphabetic prognostication.
V.......W
It is now clear that the recovery will not be V-shaped. It may not even be W-shaped as the pandemic resurges in 30 U.S. states.
L and Z
The Fed has predicted the worse fear of Trump - and of the American people- the prospect of an L-shaped or a protracted recovery. Americans like the instant gratification of TV serials, the leisure of not having to do the hard work of thinking -morally, competently and civilly;
We love the illusion of the effectiveness of technological innovation;
Most of all, we love having the news interpreted for us by Rupert Murdoch;
and his family;
Americans detest the protracted or L-shaped recovery that involves personal sacrifice, perseverance and competence;
Z
Any US economic recovery, whatever its shape, must take into consideration a US national debt of $26+ trillion;
equal to and soon surpassing US GDP. Under the circumstances, localities will be defunded and become unable to source from the Federal government. The inevitable increase in state and local taxes will cause the wealthy and the privileged to resent the demands of those who are underserved and served “disproportionately” by the mediocrity and propaganda of dysfunctional politics and the privileged;
I have never...
When US troops deployed to Haiti, they called the Haitian wealthy and powerful in this desperately poor country by the abbreviation MRE, a Morally Repugnant Elite.
D
The result of our national, moral and socio-political delusion is D, a denouement of predictable dysfunction;
socio-political chaos;
totalitarianism;
and ineffectiveness in global trade;
W
We're better than this!
E