Resident columnist Dickson Igwe
Corona Virus will precipitate a long economic depression: be prepared for a very different and much more difficult world
The Corona Virus Pandemic is a revolver to the temple of the global economy with three bullets in the chamber. The finger pressing the trigger has released its first bullet plunging the world into economic contraction and recession.
The second bullet has also been released albeit it remains in its trajectory. It will, when it finds its target, send the world into a deep economic depression. This will be a deeper depression than even the Depression of the 1930s that precipitated World War 11, and certainly far worse than the Great Recession of 2008.
The third bullet remains locked in the chamber. This bullet if released could initiate the final destruction of mankind. If released it will begin a cascading sequence of tragic events from climate change tragedies, to pandemics even worse than the present Corona Virus Pandemic, to a Third World War ending in Apocalypse.
Greta Thunberg. Photo courtesy https://www.metrojornal.com.br/
It is too late for mankind to mitigate the first two events. However the third and final event is very much up in the air. The teenager Greta Thunberg is a forerunner to that sequence of events, and her words are a chilling warning. The child is providential, and a gift from God.
Her assertions that thoughtful governance and a stress on an environmentally friendly, eco-sustainable, and socially oriented economics, that will save the day, will either be acknowledged or ignored to the destruction of our habitat.
The problem is the evil, greed, and selfishness of human beings. Are people aware of the thin ice we are all walking on? In any event, we better all get prepared for many years of economic woe.
The best quality to possess today is patience.
If experts believe this virus will be gone by early 2022, then the next 24 months are going to be lean and rough. The years after 2022 will be equally rough as the globe begins a precarious journey to sustainable economic growth. The main question today for every responsible government and citizen is how to survive the coming 7 lean years.
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Dickson Igwe is an education official in the Virgin Islands. He is also a national sea safety instructor. He writes a national column across media and has authored a story book on the Caribbean: ‘The Adventures of a West Indian Villager’. Dickson is focused on economics articles, and he believes economics holds the answer to the full economic and social development of the Caribbean. He is of both West African and Caribbean heritage. Dickson is married with one son.
