Trump In The Time Of CoVid-19

I’ve been considering the question that’s clearly before us: Should we stop the extreme measures we’ve adopted to prevent the spread of CoVid-19? Are we causing unnecessary economic damage on top of an inevitable epidemic?

The answer seems to be: it all depends on what’s important to you.

If your well-being is what matters, then we should probably continue on course. While it appears to be true that we cannot reduce the likely number of illnesses, in the long run, what we can do is spread out the infection rate to keep it within our medical community’s ability to respond. This is what they mean when the say “flattening the curve.”

Click here for source

The benefit from flattening the curve is making medical care available to all the acute cases, as opposed to an outcome similar to Italy’s, where severely ill people are simply being allowed to die.

On the other hand, a strong nation depends on a strong economy. Continuing with the current restrictions on industries and movement is going to cause a recession, and it could be a whopper. According to the New York Times,“A one-year epidemic that took just over one million lives, which is consistent with recent projections based on scenarios from the Centers for Disease Control and Prevention, would reduce the nation’s G.D.P. in 2020 by $1.8 trillion — 8.4 percent.”

This is no idle matter. There will be extended and widespread unemployment, the service industry and other sectors may be permanently damaged and the recession/depression could last for years. If the outbreak wanes in the summer (the “sucker” phase) only to return with a vengeance in the fall – this is expected – there would be no financial relief left to give. 

Some note that the government can print as much money as it wants, but inflation bats last. Imagine a $100 loaf of bread.

Personally, I’m squarely on the “I’d like to live, thank you” side of things. Unlike that nutcake from Texas, I’m not willing to die for the economy. But I’m realistic, too – these events could shatter my pensions and shutter social security (try saying that three times fast). We could wind up in $100 bread lines. Until we do, I’m washing my hands and staying home.