The lack of a strategy and tactics is a result of our political system. If we had in place a universal basic income program all of this craziness in setting up new sources of money would not be happening. But every time a more liberal thinking govt tries experiments like this a more conservative gov't gets elected and ends this.maxlion wrote: ↑Fri Apr 10, 2020 10:00 am Our provincial leadership has presented a somewhat unified response to the crisis, and has effectively mitigated the impacts on the health care system to this point. However, our economy is in total meltdown and there is no coherent strategy to deal with this, other than waiting helplessly for a vaccine.
China, on the other hand, pulled out the problem at its roots, and now its economy is booming. If you want a model for how to deal successfully with this pandemic, look to Asia. Our weak, individualist approach is not a model for anyone to be proud of.
I 'm hoping that coming out of this pandemic will be a push towards a universal income scheme across the globe. Studies have long shown this isn't unaffordable with tweaks to current tax systems.
This is NOT socialism but capitalism. Check out the history of this!
I wouldn't go so far to suggest that the China economy is "booming" because it isn't.
China has a leg up on the rest of the world as their challenge is knocked down for now and they were able to cordon off Wuhan and pretty much all of Hubei Province as well as all travel in/out.
China has an added leg up in its shift to a digital economy as they're giving out digital coupons required to be spent in targeted ways unlike if they gave cash which would be banked. Friends and colleagues in China have for some few years been ordering and paying with their phones and most never get to an ATM.
I've invested some money in a Canadian block chain organization who are working on a digital platform that could eliminate cash and be available to even small mom and pop businesses. Credit cards would be toast.