Minimalists are geared to thrive in any local economic recovery.
There is an amazing thing happening to the global and local economies [see photo].
The global economy is flat-lining as the volatility of global money is slow due to huge private and public debt overhangs. Those with huge debts who operate in the global economy are being supported by global monetary expansion. These measures keep them afloat but today the velocity of money is stalled and so global growth continues to be stunted. Some experts suggest that the growth in the global economy is on hold due to the disruption caused by covid-19: I respect that view but I tend to think that the real issue is debt not the virus. The global economy has entered into a deflationary cycle that is largely immune to the best efforts of Central Banks to print money because that new digital credit refuses to flow evenly through the system and thus does not stimulate growth or price inflation [except in stock markets where it is being stored as a new version of "hot money"]. And the movement of funds into gold and bitcoin holdings simply slows the velocity of global money flows even more. So these two investment instruments do not help the situation in the short-term. But, in the long-term who knows what impact these inert monetary instruments will have if they become real alternatives to traditional forms of money.
The neighbourhood economy, unlike its big sister the global economy, is being destroyed. The old businesses are closing and making room for green shoots. The local economy as we all have know it is about to be destroyed. Only the major brands will trade on the high street in the short-term. Clearly the pace of change in the local economy will be geared to the speed of the roll-out of 5G technology. Once 5G is up and going local businesses will begin to crowd-out the global and national brands we have come to rely upon in the past. New businesses will emerge and bring a new customer experience into your local region or hood. Innovation in service will be the key to survival in this emerging local economy. Face-to-face service will thrive. Online delivery may be provided on the backend of these new businesses; but, the user interface will be human to human. The need for a social score will sink when you can once again trade directly with a vendor. Equally the heavy-hand of ideological and theological government will be by-passed by direct transactions [even barter] between the provider and the customer. Sure taking the greedy government out of the pockets of these new business will be difficult but these ventures may gain as much as a 3 to 5 year holiday from the oppression of current government regulations.
There is much more to note about all this but that can be left for future posts.
Richard
Minimalists are frugal and live their lives with minimal debt levels. If you are interested in learning more about minimalism please go to the homepage of my website at minimal-you.com
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