The news media are flooded with articles about the negative effects around the world of the COVID-19 virus.
Less evident in the flood of news are the warnings of the economic crisis that has been unleashed.
In the regard, here is a brief quotation from an article March 28, 2020 in Forbes Magazine, which is a journal designed to be read by the capitalist class. It is entitled “Donald Trump And The Fed Are Destroying The U.S. Dollar”.
“Potential risks of the combined cross-party rescue bill and Fed’s biggest-ever bazooka include out-of-control inflation, the dollar’s displacement as the world’s funding currency, and the complete destabilization of the U.S. financial system. The Fed pumped over $1 trillion to the system in recent weeks, with its chair Jerome Powell promising never before seen levels of money printing and so-called quantitative easing to infinity through an unlimited bond-buying program.”
An economic crash can be seen as an opportunity as well as a calamity, as described in the blogs Has the crash arrived? and A new chapter in the history of the culture of peace.
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