The virus is real but has been cover for a bigger issue at hand. Baby Boomers reached peak spending years ago and we entered into a deflationary period as they headed towards retirement. Interest rates along with the velocity of money has been declining. Federal Reserve and the Government was providing quantitative easing (M2 money supply) in an effort to stimulate the economy which wasn't working. Most of the money goes to the wrong places. Assets were over priced and debt had been running rampant on all sides while Millennial's were priced out of participation. Note that Millennial's are the next largest generation of consumers. The issue is like playing in a Casino, each time you lose money, you need to double down on your bet to cover your previous losses.
The government needed a reason to print trillions of dollars and this scenario was the perfect excuse to solve a bigger financial issue. Without the virus, the general public would not approve the printing of trillions of dollar. This virus will also allow us to reduce the value of dollar making exports more favorable and allow manufacturing to come back to the US which was one of Trump's goals. It also allows us to study the impact effects of large scale unemployment which we might see in the near future due to AI and mass automation which Elon Musk has been mentioning for a while.
Hedge fund manager, Ray Dalio said that they were printing money to fill the deflationary gap. This is all in an effort to re-establish a healthy inflation and increase the velocity of money to normal levels. We will get through this but things won't be the same and bigger issues lie ahead in the near future. There may be potential bond failures as rates increase and global challengers to the dollar as the world moves closer to a digital currency. I wouldn't be surprised if there were more government control mechanisms also on the way.
As seen in the chart, the volume of Bitcoin has been increasing. I believe these current economic conditions make a valid point for Bitcoin as a hedge. Follow the money trail and you'll see why things happen.
Ray Dalio had written a book on the Debt Crisis which is free online. https://www.principles.com/big-debt-crises
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