Count on the people with money to be patriots in this situation. When my governor tells me I can leave the house, I'll be raining money on the local economy, and not because I like to shop. Using delivery for now.
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The biggest economic variable after the crisis passes will be bringing our supply chains home. The economic benefit of that (which is now guaranteed to happen) will be immense.
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Repatriating our supply chain should be a cabinet level position, or similar.
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Businesses that were profitable before the virus hit are a bank's best friend. Banks LOVE a proven business model that has a short-term cash need. Best kind of loan you can make.
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Printing money and handing out cash is normally inflationary. But we have never had less inflationary pressure in general. Even energy costs less. I can't think of a better time to do it.
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Expect lots of patriotic over-hiring when we can leave our homes, at least for companies that can afford it. If we get employment right, the psychology engine will roar.
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Full disclosure, I put all of my available cash into the stock market during the downturn. When the market comes back, it will happen fast, whether a month from now, next year, or five years from now.
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If you are a new follower, it might help your confidence in my opinion to know I have a degree in economics and an MBA. I'm not an expert by any means. But I can probably see the field better than those with no training. And I don't see anything permanently broken.
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Economics is like no other field of study. It might be the only one in which you can "will it into existence" so long as everyone is on the same page and there are no material shortages. If we keep our minds right, the economy follows.
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Replying to @ScottAdamsSays
How does the media fit into this? Can the psychology engine work with a media actively trying to undermine it?
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Yes. You just need better persuaders working toward the good.
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Replying to @ScottAdamsSays @_eager_beaver
Persuaders is what got us into this mess. What we need is to stay in place to limit exposure/infection of others, and to elevate FACTS over persuasion.
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