Financial pandemic covid
18
Jan
The current crisis, which is a health pandemic may have
serious financial consequences, the warning is from World Bank chief economist Carmen Reinhart.
The prolongation of the Covid-19 Pandemic overloads domestic and business economies and evolves into an economic crisis. Reinhart calls this effect “cumulative cost”, explains that there are classic balance sheet problems.
In 2009 he published a book with Kenneth Rogoff, then a Harvard colleague, who analyzed the most recent financial crisis, the book “This time was different: eight centuries of Financial Folly “has become a benchmark for governments for recessions, bank runs and infringement proceedings.
Those who believed in a full return to normality are mistaken, as well as a plan for future pandemics and a co-immunity (concept created by Sloterdijk before of Pandemic), it is necessary to develop a kind of mutualism, that is, relationships that have mutual commitments, where the Other is not uncomfortable but part of the solution.
It must be imagined that this could promote a great change of mentality, this seems almost impossible , but the future of humanity depends on this, and learning must be fast, is one of Sloterdijk’s subjects in “Change Your Life”, written before the pandemic.
