34M To 100M People Could Be Forced Into Extreme Poverty Over Covid-19

[Economy 52,919]

https://www.bnnbloomberg.ca/trudeau-allies-call-for-global-unity-at-un-summit-on-pandemic-recovery-1.1442232

 

The number of people that could be forced into extreme poverty as a direct result of Covid-19 is estimated at 34M with that number rising to 100M over the next decade over lingering impacts

[AlwaysLoveGaga 4,297]

I do not agree at all with the people saying to reopen ASAP. But, this does provide some context as to why some of them really want to reopen. A lot of the people asking to reopen are just conspiracy theorists who think this is a hoax, but some genuinely are feeling the economic impacts of this.

We need to keep persuasions in place, but we have to understand where some of these people are coming from. The government needs to help these people with monthly stimulus checks, aid, etc.

[Economy 52,919]

11 minutes ago, AlwaysLoveGaga said:

I do not agree at all with the people saying to reopen ASAP. But, this does provide some context as to why some of them really want to reopen. A lot of the people asking to reopen are just conspiracy theorists who think this is a hoax, but some genuinely are feeling the economic impacts of this.

We need to keep persuasions in place, but we have to understand where some of these people are coming from. The government needs to help these people with monthly stimulus checks, aid, etc.

I suspect a good portion of these people are from Countries with the Government doesn't have the means to simply pay a salary for people to stay home and do nothing. That's an extremely expensive measure that for the most part is more within the real of possibilities for rich Countries. 

 

Heck even for rich Countries it's expensive. Here in Canada we are forecasting a minimum of $200 Billion deficit this year (a decade worth of Deficits and 10% of GDP) and the whatchdog said benefit extensions could bring it as high as $400 Billion (or 2 decades worth of deficits in a single year or 20% of GDP)

 

The Government is not a money tree with infinite ability to just keep throwing money even tho people like to treat them as such

 

Even so they are already going beyond their ability to borrow and finances which is why many Countries are printing some of the money despite the risk of high inflation later

 

It's not like Governments aren't responding. They are running stimulus packages that make the 2008 stimulus seem like pocket change by comparison. But they got their limits too

 

Edit: I'm not suggesting a shutdown during extreme spikes may not be necessary tho. This is a situation without any perfect solutions

 

Shutdown the economy, save some lives but collapse economy and people's livelyhoods (and run up Government debt we will be on the hook for an entire generation)... Don't shut down and more people die. It's a doubledl edged sword that either way sucks

[ilocorB 548]

I would be one of those if Canada did not give CERB to students. There are no jobs it’s crazy.

[AlwaysLoveGaga 4,297]

9 minutes ago, Economy said:

Shutdown the economy, save some lives but collapse economy and people's livelyhoods (and run up Government debt we will be on the hook for an entire generation)... Don't shut down and more people die. It's a doubledl edged sword that either way sucks

That's what seems so scary about all of this. With other things that happen we can look to the past for ideas and guidance, but we don't have that now.

[Bt1 5,213]

The title is false. Let's call it how it is. The lockdown will do that, not covid. The extreme measures that arent backed by science will do that.