Millions of people have lost their jobs, and their lifelong savings. In developing countries, poverty and despair prevail.
While the lockdown is presented to public opinion as the sole means to resolving a global public health crisis, its devastating economic and social impacts are casually ignored.
The unspoken truth is that the novel coronavirus provides a pretext to powerful financial interests and corrupt politicians to precipitate the entire World into a spiral of mass unemployment, bankruptcy and extreme poverty.
This is the true picture of what is happening.
How is it implemented? The fear campaign plays a key role. The lockdown is presented to national governments as the sole solution.
No need to reflect or analyze the likely impacts. Corrupt national governments are pressured to comply.
The economy is the basis for the reproduction of real life.
It is also the basis for upholding public health endeavors.
This closing down operation affects production and supply lines of goods and services, investment activities, exports and imports, wholesale and retail trade, consumer spending, the closing down of schools, colleges and universities, research institutions, etc.
In turn it leads almost immediately to mass unemployment, bankruptcies of small and medium sized enterprises, a collapse in purchasing power, widespread poverty and famine.
VIDEO: COVID: Closing Down the Economy is not the Solution
Disclaimer: The contents of this article are of sole responsibility of the author(s). The Centre for Research on Globalization will not be responsible for any inaccurate or incorrect statement in this article.
