Civilization in Overdrive by Konrad Stachnio;

Author:Konrad Stachnio;
Language: eng
Format: epub
Publisher: SCB Distributors
Published: 2020-10-15T00:00:00+00:00

*RABBI JOEL DAVID BAKST is a teaching rabbi and scholar of the Talmud and Kabbalah who studied and taught in Orthodox yeshivot while living in Jerusalem for 20 years. He has a global reach and has lectured and taught in Israel, the United States, and India.

Jack Rasmus*

“The central banks and the governments will not allow cryptocurrencies to supplant the regular monetary system.”

KONRAD STACHNIO: I would like to speak with you about this pandemic and the long-term scenario for Europe and United States, China. What will happen? Because we are facing a really serious situation.

JACK RASMUS: Yeah. Well, let me take that question on. What will it look like after, or what will happen between now and after? There’s really a couple phases here. We’re right in the middle of it right now, in its more intense contraction phase, and we see the real economy everywhere virtually shutting down except for basic necessities. That’s true in Europe, that’s true here in the U.S. It looks like same for much of Asia, although it looks like Asia may be coming back in terms of activity a little bit. Although it’s not clear whether that will be temporary too. There are reports of a second wave of infection beginning to occur in Asia. It’s not verified yet, but there’s some indication of that. Of course, the big risk is that if you go back to work too soon and more people get infected, then you do have a second wave. There are forces in the U.S., I’m sure in Europe and especially in the U.S., that want us to go back to work because they don’t like the fact they’re not making any money, and they really don’t care about how many workers get sick and die because they’re just, like good capitalists, thinking of their own bottom line here. I’ve heard there are thousands of workers in the U.S. meatpacking industry that are now being infected. It appears these business forces have had some influence with Trump for a while now, and Trump was talking about “We’re going to be back by Easter,” but then the reality and the science overwhelmed the ideology and the pursuit of profit and he said no by Easter, admitting “we’re going to lose hundreds of thousands of people here, even if we do the best possible.” All we can do is mitigate, not stop the virus at this point. In other words slow down the process. But Trump will change his mind again about opening the economy. He constantly flip flops. I don’t think there’ll be any real solution to this health crisis, and thus to the disruption of the economy, until they get a vaccine or some sort of treatment that clearly cures people functionally so that they could go back to work. Until you see the medical scientific solution, the pressure on the economy is going to continue. Maybe not as severe as the initial effects that we’re seeing now, in especially Europe and the U.

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