Debate Magazine

"Basic Income During Quarantine: The Only Way To Avoid Societal Collapse"

Posted on the 05 April 2020 by Markwadsworth @Mark_Wadsworth

John McCone explains on his blog why only Basic Income, Combined With Freezes In Rent, Mortgage and Debt Payments Can Stave Off Calamity.
This is not the usual landlord-bashing. Fact is, at present, the rental value of most business premises is zero as they can't be used; residential rents are set by local average incomes - if average incomes have plummeted everywhere to the same low level (the level set by UBI for most people), then residential rental values are to all intents and purposes zero as well.
The same goes for mortgage payments; they come out of the rental value, and if that is effectively zero, then there's no income to cover mortgage payments (for owner-occupiers or for landlords).

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