Posted on 10/10/2020 3:37:38 PM PDT by george76
the impact of mandated shutdowns ...
In response to the Covid-19 pandemic, widespread lockdown restrictions were imposed, ostensibly to keep hospitals from being overwhelmed and medical resources from being consumed to exhaustion. Whether policymakers purposely or out of ignorance disregarded them, the tradeoffs of stay-at-home orders were immediate and severe: a massive spike in unemployment, rivaling the Great Depression
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Among Mideast states, New York’s GDP declined the most: 39.3%. .. long-lasting nature of lockdowns on New York City.
Yet compared against all other U.S. states, Hawaii and Nevada’s GDP plummeted the most: both by 42.2%.
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artificial economic slowdown imposed by government policy can have a broader, more devastating effect than what the US endured just over one decade ago: the greatest financial collapse in nearly one century.
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Yelp estimates that a staggering 61% of restaurants will ultimately close permanently as a result of lockdown policies.
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the deep and sudden recession (and by some measures economic depression) were caused not by the collapse of credit expansion but by policy-dictated business closures, a near total cessation of trade, and the immobilization of the population-at-large.
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State-enforced lockdowns create uncertainty, which impacts business investment, winnows savings, and destroys consumption at every point
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The lockdown, imposed at various levels, has had a profound impact on every aspect of commerce. Unlike models and other popular representations of business activity, the economy is not a machine and cannot be ‘shut down’ and ‘restarted’ at will; many of the firms which have closed will never reopen
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U.S. states with brief or no lockdown measures (e.g. South Dakota and Nebraska) experienced the smallest degrees of economic damage.
(Excerpt) Read more at aier.org ...
l8r
South Dakota proves that unconstitutional lock-downs are medically pointless….
If there were no orange man, there would have been no lockdowns
The whole point of the RAT/CCP planned virus release was to kill the raging Trump economy and to kill as many elderly Trump voters as possible...simple as that. They were only marginally successful.
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Absolutely agree; but we must factor in all of the costs associated with a spike in substance abuse, domestic violence, suicide, and opioid overdose deaths.
OODs are up 50% over last year in my county and will probably surpass the former “peak” experienced three years ago by this year’s end.
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