11/01/2020 (Sun) 08:23:31
While the effects on the economy will last until at least 2025, we are already seeing the worst of it. We are expected to bounce back next year and follow that with smaller gains the following years, China is expected to have their economy go up something like 8% next year.
Small and medium business were always going to die at some point, it's the way the world was heading, this just accelerates it but even then it's never going to get rid of it completely and we are also seeing growing interests in small niche markets(an interesting occurrence from over here, West End the biggest brewer in my state has closed down due to the competition from smaller craft beers).
UBI is something that should happen but even if it did it would not for a while to come. Most people are still working, until automation reaches a point where it takes so many jobs that it just cannot be ignored then it will be ignored. Once it reaches that point we just have to see how the governments of the world manage to bring business under their heel in order to actually implement something like this, the money has to come from somewhere. Otherwise we could end up with a South Africa situation. There won't be such a caveat, but if somebody is on UBI most likely they won't be able to afford a property anyway and the government will have to provide cheap housing for these UBI masses.