Quote from: coolbaughandrew on January 15, 2021, 09:05:38 AM

The media has been talking about the great reset since the last year https://www.msn.com/en-us/news/politics/introducing-the-great-reset-world-leaders-radical-plan-to-transform-the-economy/ar-BB15XGsU
I'm fed up with different conspiracies, but really want to know what the economy of the future will look like.

As for what the future may look like, IMO we can guess quite a lot just by watching the public pronouncements by the mainstream media:

- Western currencies will stay strong against other fiat currencies. (They will likely be devalued against gold, silver, cryptocurrencies, etc., but only one time. After the Great Reset, Western fiat money will, for a long time, hold their value or gain against the non-state monies.)

- For large segments of the Western populations who will be priced out of the global economy by their own currencies, there will be 'universal basic income' (free money from the government) to let them survive at a basic level.

- To minimize the inflation caused by UBI, the West will import a lot of migrant workers from the developing world (with varying legal frameworks for their entry) to do hard work for low pay. The Black Lives Matter movement may have been an attempt to preemptively silence critics of this migration.

- Technology will be a major support for the Western economic system. Young Westerners who have the drive to succeed in tech should do well. (The biggest winners will be those with cheap money and expensive skills, e.g. Indian IT workers; the biggest losers will be those with expensive money and cheap skills, e.g. US truck drivers.)

- Many jobs that depended on the pre-covid bubble economy will be permanently gone. The new economy will be leaner, with less need for travel, entertainment, and other luxury services.

- Cash will be abolished in the West, all money will be electronic, and fiat currencies will be subject to deeply negative interest rates to 'stimulate economies and promote growth' via central banks.

- When the reset is done, stocks, long bonds, and real estate will be nowhere near today's value. (They might not drop nominally, but their values will not command nearly as much purchasing power as today.)

- Pollution will slow down, partly from reduction in activities that are environmentally expensive, like flying, and partly from new power by governments and big corporations to police pollution. (In an overall trend of consolidation of power, this might be the only real benefit.)