Goodbye Late-Stage Capitalism, Hello Covidism

Tom Érglis

“We cannot return to normal, because the normal that we had was precisely the problem.” – Graffiti in Hong Kong

You may have observed that nothing really happens until the old show breaks down. Nobody who has watched the unfolding events of coronavirus can call it anything but a complete breakdown of the world that we knew it before. There have only been a few times in history that the world has so greatly changed overnight, and this may well be the defining time of our generation. And as dark as this hour is it is no darker and it is not as dark as some of the hours we’ve known in history. We’re living in a truly historic hour.

I didn’t want to write my second article so soon after the last however I am both unsurprised and saddened at the pace at which the future I wrote about is coming true. I would say this with some satisfaction, but that is not a word to use in the situation of a tragedy.

I would like to take this opportunity to thank the people who read my first piece and who provided very valuable feedback that will hopefully make this second go better.

This article will investigate the many holes in logic that have been exposed by the global pandemic. It will also expand on what I believe a post-covid world (should) mean for the future.  This article is comparatively brief in the grand scheme of this evolving epidemic, so I have included a number of hyperlinks for further reading and expansion on certain points where necessary.

 

People’s Republic of China and the World Health Organisation

“The confession of evil works is the first beginning of good works” – Saint Augustine

Coronavirus is controversially known as Chinese Virus. Criticism of this branding are flimsy at best. Here are a few of my favourites;

  • ‘Chinese virus is racist!’ – Chinese is not a race.
  • Coronavirus is international! – Yes, coronavirus isn’t that different from most Chinese exports. China criticised countries through the puppet World Health Organisation in February for imposing travel bans on China which would have almost certainly slowed the spread of the virus.
  • China has done more to contain the virus than anyone else! – No, they have done more to hide the numbers of infections than anyone else. We still don’t know exactly how many have died in Communist China because of the complete control of information. Given it is the epicentre I would guess it is far more than the United States.

The Chinese Virus is no different to the naming of Spanish Flu, Lyme Disease, Japanese Encephalitis and many others throughout history. The group which championed the discontinuing of naming virus’s after the location of their inception is the World Health Organisation which has been shown to be in the pockets of the PRC. In my opinion it is morally wrong to absolve China of the blame for this pandemic by not calling it Chinese Virus, and to not do so is to carry out the bidding of the  corrupt World Health Organisation. There needs to be no doubt about its origin.

The PRC has been a constant roadblock in the fight against the virus. From not allowing any foreign organisation to enter Wuhan except the World Health Organisation, to the export of faulty equipment the People’s Republic of Death has blood on its hands. There are links between the Chinese Virus and the Wuhan experimental biolab which opened in 2018. Although it is too early to tell, I would not be surprised if Chinese Virus is an escaped bioweapon. It is either that or a result of the Chinese’s disgusting attitude toward hygiene and inability to judge which animals are friend or food.

The blame for the virus begins with China and ends with China and it is almost certain that just like Tiananmen Square, Tibet, and the Uyghurs, China will never confess their evil. I hope that when this is all over the world treats the People’s Republic with increased weariness. Never forget that they lied to save face but would not tell the truth to save lives.

The same goes for the World Health Organisation. This organisation is criminal. It’s links to China are sickening. When this is all over everyone from the top down need to be put on trial. This video (timestamped) should be an eye-opener for anyone who doubts the World Health Organisation’s lust for control.

 

United States of America

The United States is facing a chronic shortage of all medical equipment to combat the virus. This article is worth reading to see just how disastrous the medical response has been.

In 1942 the United States could produce one B-29 Superfortress bomber out of aluminium with its complex machine parts every 63 minutes at a single factory. Now the United States in all its modern industrial might is having to import shitty plastic masks from China because their domestic production can’t keep up. Chrysler workers were (before the shutdown) demanding the government appropriate the factories and re-calibrate them to produce personal protective equipment and ventilators as the government did in the Second World War. This unsurprisingly didn’t happen. Trump, desperate to turn his response to the virus into the saving grace of the upcoming U.S election has branded himself as a ‘wartime president’. So far he has proven to handle things more like a Neville Chamberlain than a Winston Churchill, though those who know history can see in Trump the worst features of both these men.

In the early days of the financial crisis from China reducing exports, the U.S government used $16 trillion to bail out the stock exchange and banks. This bailout brought back the economy for 10 minutes then it resumed its freefall. How many student loans could have been forgiven with that money? How much essential medicine could have been subsidized? How many of the homeless could have been sheltered? It is incalculable.

The truth is the United States (and by extension the world because we live in a time when the economic power of one nation is inherently linked to the economic situation of everyone else) has no real money. The United States economy has been crashing for the past decade. Money is the most arbitrary concept of the 21st Century.

  • Federal debt is at USD$23 trillion (January)
  • Corporate debt is at USD$6 trillion
  • Consumer debt is at USD$71 trillion
  • World debt is USD$177 trillion
  • Stock, bond, housing and auto markets are in a bubble (unsustainable high)
  • The largest stock market drops in history have happened since August 2019
  • 60% of Americans live in ‘asset poverty’
  • 25% of credit card holders are paying for rent/groceries on credit
  • If the U.S raises interest rates they will crash. The U.S also cannot afford to lower them further
  • Every country in the world is linked to the US Dollar, if they go so do we
  • Most countries used to be on the ‘Gold Standard’ (countries finances are backed by gold reserves.) Currently the currency of the U.S dollar and the world is backed by thin air. This has caused a recession every 7-8 years.
  • The Federal Reserve expects 33 Million Americans to lose their jobs by June
  • Over the course of the Great Recession (2 years) in 2008 less than 10 million jobs were lost. 3 weeks into covid 16 Million jobs have been lost.
  • Sources

If you thought the 2008 economic crisis was bad, you haven’t seen anything yet and Corona has accelerated the inevitable collapse.

I could go on for days about how the capitalist system has failed in the face of this virus, but the situation is unfolding at such a rapid pace that tomorrow a hundreds  new criticisms may spawn and it would be impossible to cover all the ones that have so far. The most fundamental are these: Capitalist shills have always criticised socialism for breadlines and soup kitchens. Yet throughout this whole crisis shelves have been bare. Consumer goods are disappearing and a few days ago ‘car lines’ have popped up. This system of supply and demand has been responsible for mark-ups and/or complete lack of basic sanitary items. The government was forced to intervene in the U.S after hoarders and price gougers built stockpiles of civilian goods. Landlords reacted with typical greed to the virus, demanding tenants pay rent despite nobody having a job which further cements their place as the scum suckers of society. Every pointer that capitalists used to criticise socialism for is coming to bite them in the ass 100x harder. Even the most stringent conservatives are welcoming government intervention and expanded welfare.

Australia

Australia has fortunately so far done quite well aside from the same lack of medical equipment that the U.S is facing. Australians have shown to be much better at following instructions than our Spanish and U.S friends, except when there’s a shortage of toilet paper.

The burden is on Australia and Australians to act decisively after the crisis is over. Australia has the unenviable situation of being positioned between two covertly hostile superpowers. Our military protection is provided by the United States and our economic prosperity is guaranteed by China. We have however seen that this is unsustainable and undesirable, and the virus has only highlighted this.

The economic control of Australian assets by China is clear and abhorrent. The patrons of this paper fight Chinese state influence on campus daily and it shouldn’t be just up to them and it shouldn’t be restricted to campus. I see it as the civic duty of all Australians to do this and recovering our assets will be a serious struggle of this generation. Never forget that boomers couldn’t help themselves and sold our future like crazy in the 70’s when China was opened up to the world. Our ports, airports, farms and mines were a gold mine.

The over-reliance on exports has destroyed our local industries. Australia sits on the world’s largest deposits of Iron ore and is one of the world’s largest exporters, yet next to none is refined here. It is cheaper to export it to China and have it refined there and then ship it back home. Australia also sits on vast natural oil reserves, yet you’d be lucky to find fuel at over $1.40 a litre. This is because of the international benchmark price. No matter where the fuel comes from it isn’t allowed to go beneath the international benchmark. It is simply not profitable to open a refinery in Australia. This has resulted in sky high fuel prices and Australia’s total reliance on international trade to give us access to fuel. Russia and the Saudi’s are currently locked in an oil-war, and lower consumption due to social distancing has crashed the prices for now.  This year it was revealed the Australian Air Force has 14 days of jet fuel reserves. This is a total embarrassment and the government of the day was torn to pieces in the 1970’s when it came out that Australia only had 40 days’ worth of reserves. How has this been allowed?

The government has reacted to the virus by releasing billions of dollars to out-of-work Australians. Same as in the United States, it makes you wonder why this wasn’t possible before? All the times the government and defenders of it said, ‘I would like to take action on climate change but where will we get the money?’ ‘I would like to house the poor and introduce a minimum living wage, but it just isn’t possible’. The sad truth is, it still isn’t possible. And the economic mismanagement of the country by boomers over the past half century is to blame. Remember that they enjoyed all the support that they now say is impossible to have now. Remember that all this bailout money came from the World Bank which is the biggest crock of shit institution on the planet, beside the UN and the World Health Organisation and has been responsible for the debt-slavery of every nation that has come into contact with it. Australia is no exception and all this new social security will not last and it is not the new norm unless a radical shakeup of the international system occurs.

End Note

What is this shakeup? This whole article has been pretty doom-and-gloom, but that should not be the take-away message. Coronavirus has already begun a great shift. People are spending time at home with their family. Most importantly, mothers and fathers are devoting all their attention to the formative years of their children’s lives. People are planting home gardens; the scarcity of goods means people are economising more and wasting less. Artists and writers are flourishing, and the sciences are being funded like never before. Hospitals are reviewing their stockpiles so that an equipment shock doesn’t happen again. I would not ask to live in any other moment of history than this, because never has mankind or humanity been faced with such choices and possibilities. Though the impending economic crisis is frightening I know that we will come out the other side with a new direction. I hope this generation will apply even greater pressure on politicians and businesses. The end of the neo-conservative and neo-liberal order is hopefully on its way. The world as we knew it has already begun changing and it’s time as young adults to start sizing up the roles we will play in this brav-er new world.

“You never want a serious crisis to go to waste. And what I mean by that is an opportunity to do things that you think you could not do before.”

― Rahm Emanuel, Mayor of Chicago

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