Unprecedented Crisis! Therefore, Few Or Any Past Textbook Solutions Would Make Sense Or Can Be Applied.
Unprecedented Crisis! Therefore, Few Or Any Past Textbook Solutions Would Make Sense Or Can Be Applied.
By Matthias Chang – Future Fast Forward
Please read the title of this article again – unprecedented crisis.
Every global economy is in uncharted territory. There are no maps which can show the way, moving forward. For sure past experiences would be useful in as far as warning signs, not to make the same mistakes during the boom and bust cycles in the last 100 years. To name a few:
The Great Depression
The Dot-com Bubble
The Great Recession
The Balance Sheet Recession
None of the above crises were preceded by a Global Lockdown that shut down the global economies. Yet, renowned economists, leading academicians, central bankers etc. are using tools and implementing policies for crises that were one way or another triggered by financial excesses or bubbles in the economy that led to the inevitable and foreseeable busts. In essence, the previous crises were financial stock market and banking crises.
The present global crisis, triggered by Covid19 is a double whammy of (1) a Humanity Crisis and (2) Collapse of All Markets.
Continue reading from PDF below:
