Bill's Prediction for a New Normal Post-Pandemic "Limited Work" Economy that will naturally emerge ultimately leading to a kinder gentler more egalitarian world
1) Job loss to robotics and high tech will usher in UBI programs necessary to provide enough consumption, the lifeblood of every economy
2) Without consumption and jobs, even the government would go bankrupt as all its income and consumption taxes would dry up.
3) UBI would add a giant GDP boost to the economy as well as a giant boost to gov't revenues, a giant boost to corporate profits, and a giant boost to standard of living.
4) 4) The economy is a wall of mirrors with money having no standard or innate value or cost to produce so free money is available in unlimited quantities to fund the UBI at no cost, the only proviso being that money releases must be fast enough to grow the economy but not too fast so as to overinflate it with circulating currency to avoid German style hyperinflation to devalue money to zero value----this kind of control is not new as even today, the Canadian gov’t allows money to devalue annually at the price inflation rate if 2%-3%.
5) Keeping the proviso of money supply in point 4 in mind, Money printed and thrown out the back door of the mint and distributed in the wind is just as good a distribution system as at present and probably as valid as today's work/pay distribution system.
5) 6) Once someone picks up a wind distributed dollar and spends it thus putting it in circulation, that buck that can be borrowed for 5c per annum earns gov'ts at present 13c HST the first time and every time it is used.
6) 7) That single buck used 3 times a day for a year earns governments $142.35 minus the nickel borrowing cost for a gross revenue if $142.30 annually in addition to all personal, corporate and investment taxes normally generated.
8) I'm predicting that the pandemic and the free pandemic emergency money allocations will shortly become permanent with the convergence of pandemic job losses and increasing robotization which will revolutionize the idea of finding/needing work, the growth of a fairer economy to wipe out poverty by more fairly distributing wealth, public attitudes that will accept public debt as a revenue producing public stimulative asset as the "new normal" that will produce undreamed wealth, innovation, and life style improvements in industrial revolution sized changes of wealth creation and world development.
9) While it may seem revolutionary to distribute universal free money by the wind, it is an equally valid way as at present. It is quite unimportant how currency gets distributed but it is vitally important that there is a system to put the chosen unit of commerce in circulation to provide a bartering medium to allow for ease in the trading of goods. This free money distribution system has great advantage 1) to a stronger economy, 2) to all citizens, 3) to richer government, 4) to a fairer more egalitarian society, 5) to reducing crime, 6) to reducing poverty, 7) to reducing social, health, and homeless problems 8) to potentially eliminating income taxes, 9) to promoting world peace and a better world!
10) You heard it here first!---Shangra Lai at last!
Baishui Tai in Shangra Lai County China--beautiful and peaceful natural mountainside cascading white water limestone terraces I visited in 1996 said to be the inspiration for the Dongba Religion of the local Naxi Minority People who also have the world's last pictographic written language.