The Coronavirus Blues

Ten Reasons Why a ‘Greater Depression’ for the 2020s Is Inevitable

Why Our Economy May Be Headed for a Decade of Depression

 Welcome to the End of the ‘Human Climate Niche’

I want to call it the coronavirus blues, that empty, groping housebound depression that keeps you from engaging with all that free time. It’s a coma of aimlessness—not really to be compared to clinical depression, though maybe a second cousin. Wearing a mask intensifies the detachment. Even with walks outside one feels alienated from life; taking off the mask doesn’t help much .

Social isolation causes it, and one way or another it seems to infect everybody. Camus called it a “feeling of exile, that sensation of a void within which never left us, that irrational longing to hark back to the past or else to speed up the march of time, and those keen shafts of memory that stung like fire.”

These thoughts are reinforced from reading recent remarks by Nouriel Roubini, the infamous Dr. Doom who was one of a very few who predicted the housing debacle and near-global collapse of the financial system in 2006. Now he predicts something even worse to come, what he calls the Greater Depression, which will make your coronavirus blues look like small change. (How the word depression got to be applied to economic collapse is another story.)

Roubini considers ten factors or trends that will be exacerbated to produce a severe global depression, a series of events that make another crisis inevitable. A summary of the ten: fiscal deficits and private-sector debt; the healthcare crisis and the aging; the coming deflation; currency debasement; digital disruptions like automation; deglobalization and protectionism; populism; the standoff of the U.S. and China; cyberwars accelerating to cold wars; and the environmental disruptions.

Finally in the list he considers man-made climate change.

The Paris Accord said 1.5 degrees. Then they say two. Now, every scientist says, “Look, this is a voluntary agreement, we’ll be lucky if we get three—and more likely, it will be four—degree Celsius increases by the end of the century.” How are we going to live in a world where temperatures are four degrees higher? And we’re not doing anything about it. The Paris Accord is just a joke. And it’s not just the U.S. and Trump. China’s not doing anything. The Europeans aren’t doing anything. It’s only talk.

And then there’s the pandemics. These are also man-made disasters. You’re destroying the ecosystems of animals. You are putting them into cages—the bats and pangolins and all the other wildlife—and they interact and create viruses and then spread to humans. First, we had HIV. Then we had SARS. Then MERS, then swine flu, then Zika, then Ebola, now this one. And there’s a connection between global climate change and pandemics. Suppose the permafrost in Siberia melts. There are probably viruses that have been in there since the Stone Age. We don’t know what kind of nasty stuff is going to get out. We don’t even know what’s coming.

Roubini is one of those economic savants who puts it all together in one totally depressing yet horribly believable package. For some reason, skeptics like this make entire sense to me. His grim analysis, oddly, can offer a program to treat your coronavirus despair, unlike other doom-sayers such as David Wallace-Wells. One takes a kind of weird comfort in thinking that somehow these cheerless predictions can turn into a recipe for reform and, one hopes, reconstruction.

Defying the Gods of Nature

How Climate Change Is Contributing to Skyrocketing Rates of Infectious Disease

The Covid-19 ‘Infowhelm’

 There Is Still No Plan

This is a picture of plastic on the sea floor, a rape of nature and another instance of hubris—that ultimate kind of human arrogance—here putting the stuff out of sight, out of mind.

Some of our oldest and greatest human stories involve hubris—meaning, for the Greeks, “excessive pride toward or defiance of the gods.” I like writing about hubris because it never goes unpunished, at least in the Greek myths. Pride always goeth before a fall, and our fall could be a long drawn-out catastrophe.

We are now in the process of committing one of mankind’s greatest acts of hubris ever in challenging the gods of nature. Climate change may be the final act in response to man’s defiance of the natural world. The punishment is going to be severe beyond our imagining. COVID-19 is a signal warning, its spread enabled by climate change.

A catastrophic loss in biodiversity, reckless destruction of wildland and warming temperatures have allowed disease to explode. . . . The diseases may have always been there, buried deep in wild and remote places out of reach of people. But until now, the planet’s natural defense systems were better at fighting them off.

The hubris embodied in our myth of perpetual progress and growth has led modern capitalism to this state. Our myopic focus on extraction, deforestation, paving, overfishing, carbonizing (the list goes on) has made us blind to what we are doing to nature and what this disrespect will lead to. One who does understand this is Amitav Ghosh, whose book The Great Derangement I reviewed here last year.

For Ghosh, the imaginative, psychological and cultural failures keep us from talking about climate change or confronting it. So does our concept of time as something linear, progressing, moving always forward. In fact, progress is the spurious idea behind modernity, which fostered the separation of mankind from nature.

It has become difficult to make sense of all this because we are deluged daily with data and information. With coronavirus we are met with “dizzying numbers of disease prevalence, fatalities, ventilators, unemployment claims; models predicting time to hospital overload, time to reopen for business.” Trump doesn’t even bother with a plan for getting the virus under control. Coronavirus has eliminated any safety net, and as many thousands of Americans die, Trump has set himself to take no responsibility—an act of utter hubris.

The consequence of the data dump also applies to climate change as the onrush of climate data provokes “everything from anxiety, numbing, and complacency to hubris and finger-pointing.” It’s overwhelming and so we proceed with business as usual. As Ghosh revealed, we are now meeting the limits of human understanding and our response is “out of sight, out of mind.” This, as the old stories tell us, cannot continue.