Posted on 03/20/2020 6:26:42 AM PDT by karpov
Financial markets paused their slide Thursday, but no one should think this rolling economic calamity is over. If this government-ordered shutdown continues for much more than another week or two, the human cost of job losses and bankruptcies will exceed what most Americans imagine. This won’t be popular to read in some quarters, but federal and state officials need to start adjusting their anti-virus strategy now to avoid an economic recession that will dwarf the harm from 2008-2009.
The vast social-distancing project of the last 10 days or so has been necessary and has done much good. Warnings about large gatherings of more than 10 people and limiting access to nursing homes will save lives. The public has received a crucial education in hygiene and disease prevention, and even young people may get the message. With any luck, this behavior change will reduce the coronavirus spread enough that our hospitals won’t be overwhelmed with patients. Anthony Fauci, Scott Gottlieb and other disease experts are buying crucial time for government and private industry to marshal resources against the virus.
Yet the costs of this national shutdown are growing by the hour, and we don’t mean federal spending. We mean a tsunami of economic destruction that will cause tens of millions to lose their jobs as commerce and production simply cease. Many large companies can withstand a few weeks without revenue but that isn’t true of millions of small and mid-sized firms.
Even cash-rich businesses operate on a thin margin and can bleed through reserves in a month. First they will lay off employees and then out of necessity they will shut down. Another month like this week and the layoffs will be measured in millions of people.
(Excerpt) Read more at wsj.com ...
thankfully someone is speaking up
Wow!! Welcome the the party WSJ!!!
Liberty for security means neither.
Well..just Duh!
While perhaps true, the WSJ Editors have lost all credibility by backing anti-American globalists, never Trumpers and open borders.
GFY Paul Gigot.
I agree 100%
Whine, whine, whine. Apparently none of us remember the “Greatest Generation” and what they endured. This crisis is trivial by comparison.
Anyone with a functioning brain knows this.
The hive mind makes it unpopular, almost criminal to make this observation.
A point well made.
Without a healthy economy, no nation can finance adequate health care.
At the end of Trump’s 15 days the stats will be assessed, and a cost-benefit analysis will be done. I would not be shocked if at least a partial relaxation is in order.
CDC was flying blind to this for various reasons. ChiCom lies, WHO incompetence, and general disease of it’s own huge bureaucracy that was obsessed with issues like gender equity in the availability of shingles vaccine.
A lot of this is because they knew next to jack at the outset.
Well if it happens we won’t be alone. The whole world is going through the same thing.
People need to put the masks on and go back to work like these asian countries that have been handling this, like Thailand.
https://www.powerlineblog.com/archives/2020/03/an-optimistic-take-on-covid-19.php
Positive and sensible outlook
You have no counter argument? Just a broadside distraction?
WE THE PEOPLE ARE THE USA !!
The alternative is death to a huge population AND an economic catastrophe.
There actually is a very good argument to be made to just let the virus do it’s thing. It would be the greatest transfer of wealth since the Dark Ages and precipitate another Renaissance Golden Age.
I mean, face it. The world could use another DaVinci.
They were professing to know next to jack. Meanwhile they were dumping their shares.
I’ve said the same thing, this hive mentality to shut things down has been very destructive. Is the cure worst than the disease? Another aspect is our tort system. Fear of legal repercussions I believe is playing a huge role in shutting things down and is not even being mentioned. Fear that someone will contract corona virus at school, work restaurant, etc. and sue that establishment. Wish this would receive more coverage or at least scrutiny.
My concern from the beginning. Essential services need to continue.
We need to manage risk, not try to 100% stop the spread of this virus
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