I'm already seeing people blaming Coronavirus for the reces…

The cause has been the utter unsustainability of the financial policies put in place by all the global powers for the past 11 or so years.

The economic network is brittle as a result, with very little in the way of buffers against calamity.

Now we have cascading supply chain shocks, most only happening because the economy is so brittle.

This is why power over money needs to be removed from the hands of governments.

Industries may be brittle, but the whole economy should never be brittle.

Why is the economy as a whole brittle?

Because our financial statement is largely a lie, divorced from underlying valuations.

This is a direct result of inflationary monetary policy and its resulting distortion of real investments in nominal terms.

Gah... The above should read "financial system"...

With a massive drop in stock markets, the value of money itself is changing. People are perceiving that they have less money.

This should never happen. People aren't holding less stocks, or less money, but they're treating stocks as money!

They are conflating the price of the assets they hold with the value of those assets...

Is anyone surprised that this is a brittle arrangement?

And does it sound familiar to anyone in cryptocurrency?

In a stable money system, the stock market isn't a perpetual motion machine of retirement savings interest returns. Instead, stocks must compete with holding money itself, with cash assets.

This shifts the entire system dramatically.

Instead of investment in stocks being a vehicle for savings, it becomes a true asset market, and the pricing mechanism can work on the underlying value of the assets instead of the speculative "this will make me richer" Ponzi structures we have now.

Anyways... I'll end this rant here.