March 25, 2020 — With the coronavirus being spread around the world and nations reacting to this threat in many different ways — from doing nothing, to closing the borders and full quarantines — the unintended effects of such government actions have yet to be fully felt.
Granted the stock market has lost 30 percent in value in just three weeks’ time, the average American really doesn’t feel that unless he is living on his investment returns.
With the closing of schools, and restaurants and any places of public gatherings, an enormous crisis is being created. Many people are being put out of work, and some of them may not have a business to come back to when the crisis is over. The coronavirus may topple an empire if we let it.
How? By exposing our self-inflicted dependence on foreign imports by every major industry in our country.
Years ago, the problem was our dependence on imported oil from the Middle East. That problem was based on cost of production — it was cheaper to import oil than to produce our own oil. As oil prices rose, and fracking technology advanced, we have reached a point where we have energy independence — although it is based on fossil fuel, and not fissionable fuel.
In regard to almost every other industrial production, be it agricultural, pharmaceutical, manufacturing or whatever, our own companies have sold their soul to short-term profits. We are at the mercy of foreign companies and governments for many of our essential items, and it was our politicians of both parties that sold us out.