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Folks, we have to start talking about the coming economic crisis. Why?

- it will be unprecedented
- if we don& #39;t we could end up in further disaster. This is a once-in-100-years event.

After the first wave is over it will dominate everything.
[Thread]

Why is this economic crash coming?

Mostly because neither the UK nor US governments prepared for it. And their measures so far have been pitiful.

Compounding that:
- Our economy wasn& #39;t resilient to shocks. That needs to change.
- Some industries can& #39;t survive this virus.

Once the first wave is over (2-4 weeks) the recession will dominate everything. We can& #39;t avoid this discussion

I& #39;ve written here about why this tsunami is coming and why our governments are partly to blame.

We can& #39;t let them evade responsibility https://www.opendemocracy.net/en/oureconomy/coming-tsunami-and-how-we-prepare-it/">https://www.opendemocracy.net/en/oureco...

It is VERY LIKELY the UK and US governments will say:

- this isn& #39;t our fault
- we did all we could.
- debt is now too high
- we need to cut spending (& #39;more austerity& #39;) and renew by cutting regulations.

That would exacerbate this depression and hit poorer people even harder.

Over at the New Statesman @georgeeaton is saying the same thing.

But not enough people seem to be paying attention. Our response will set the course for the next 50 years at least. https://www.newstatesman.com/politics/economy/2020/04/uk-heading-economic-disaster-now-time-bolder-intervention">https://www.newstatesman.com/politics/...