The 2020 Economic Crash

The Underlying Cause of the 2020 Economic Crash The economic crash of 2020 had a profound underlying cause often overlooked amidst the immediate crisis: excessive borrowing, a result of quantitative easing that had been in effect since the 2008 financial crisis. Thus, an economic downturn was, unfortunately, a ticking time bomb.

Now, don't misunderstand me. I'm not underestimating the significant role the Coronavirus pandemic played in exacerbating the global economic decline, nor am I suggesting that governmental aid for small businesses wasn't a necessary measure during these difficult times. However, I am pointing out a recurring theme: the tendency to engage in excessively risky financial behaviours, as evidenced by the downturns of 2000 and 2008.

What's particularly concerning about the 2020 crash is that it provided an opportunity for various incompetent executives to eschew accountability by conveniently attributing all blame to the Coronavirus. And the result, as it often tends to be, is that the general public will be left footing the bill.

The situation is elaborated upon in the video below.