Corona as gift of God

Welcome to lockdown!

My following letter to the Austrian Economist Stephan Schulmeister was written during the financial crisis in October nine years ago:

Dear Stephan Schulmeister,

I really appreciate you personally. You are sympathetic and I like that you represent an alternative to the “neoliberal smog in our minds.” Nevertheless, your point of view falls short.

You say it has been going well for decades and problems have only recently arisen due to the resources of the financial markets. I disagree. For example, take a look at the graphical development of national debt in the US and the Dow Jones Industrial over the past hundred years. Both exponential functions, as any high school student can tell. The same is true for the corresponding European values.

The essence of an exponential function is that the slope accelerates. No wonder, as you say, it went well for decades. However, we have now reached a point on the curve where the compound interest system behind it (for debt and growth!) collapses.

There is only one logical alternative to this. Free money with negative interests and an unconditional basic income. So money can flow out monthly by negative interests and flow back to each of us by the UBI. So there is an automatic redistribution from the few to the many, from rich to poor. The cancerous growth of exponential growth would come to an end, compulsive exploitation would end and the livelihoods of all people in the world would be secured.

Kind regards

Peter Wurm

Negative interests are here, the basic income is coming. “Whatever it takes.” We will survive Corona. Our “economic system” will not. The exponential function of the virus beats the exponential function of money. The earth breathes again.

Thank God.

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