Paper from 2010 predicted political instability to peak in 2020
[QUOTE=Pessimist;2464742]US dollar generally becomes stronger during times of global economic distress.[/QUOTE][QUOTE=Mursenary;2464695]I suspect the answer to this depends on your industry and your investment positions as I don't think that there will be an equal crash across the board like in 2000 or 2008.[/QUOTE]I believe both of the above assertions are true given current conditions, but my fears are more dire. If mass political or civil unrest ensues, it could challenge or upend both statements.
[QUOTE]"Is the US headed for another civil war? In a word, yes."
Professor Goldstone is a leading authority on the study of revolutions and long-term social change at George Mason University. The model developed by him and Peter Turchin tracks such data as the ratio of median workers' wages to GDP per capita, life expectancy, average heights, and the number of new millionaires. It also measures political polarisation or the degree of overlap between the parties.
Ten years ago, Professor Turchin pointed his model towards the future, and made an uncannily accurate prediction. Just like in the 1850s, crisis indicators were rising, he wrote in the journal Nature. They could be a reliable indicator of looming instability and "look set to peak in the years around 2020," he wrote.
It came down to population changes, Professor Goldstone argued. The American population surged after World War II the Boomer generation born in a time of relative peace and plenty. As this massive cohort aged and accrued wealth, they could make the country vulnerable to political crisis. But this would only happen, he wrote, if the elites did three things: tighten up the path to mobility to favour themselves and their children (like increasing the cost of university); dampen wage growth and claim a greater share of economic gains for themselves; and resist taxation so that government is starved of needed revenues.
Professor Goldstone predicts the real problems will begin after July 31, when Americans' $600 a week COVID-19 unemployment welfare expires.
"Social tensions likely continue to grow as we move to November," he said..[/QUOTE]I am by no means an expert on revolutions and social and civil unrest, but I believe two necessary ingredients are (1) economic hardship / inequality and (2) "bulge" in young population. I believe in 2020 we definitely have the former.
Original 2010 paper: [URL]https://www.nature.com/articles/463608a[/URL].
Slowly returning to normal
I was in Germany yesterday for business and I'm happy to report that things are SLOWLY returning back to normal.
Instead of visiting Sharks after my meetings, I went to have a small bite to eat in a nearby town and restaurants and shops are quite full again and many people are sitting outside on terrases.
It's a true pity that clubs with a big outside area (Sharks, GT, Oase) are not allowed to open, because it seems that outside in the fresh air there is a very small chance of catching CV19. What concerns me is when the weather cools down again in September-October, the spread of CV19 will increase again because people are forced inside. Unlike the US, not many houses and businesses in Europe have air conditioning, and I wonder if HVAC systems are spreading CV19.
I remember my last visit to Sharks in January, and the air inside was really bad as always. Furthermore, the hygiene has been going downhill at Sharks for many years; dirty toilets with faces stains on the dividing walls, no soap in the dispensers, no paper towels to dry hands, dirty floors, and dirty / hot rooms. Just imagine how much dirt and how many bacteria are living inside the carpet in the main area, because this has not been replaced or cleaned in years.
Although line up was not fantastic at end of January, I really miss many beauties from Sharks and I hope it will reopen soon!