Will's a very smart guy, but I disagree. Like many key economic policy decision makers, many simply assume we can magically restart the economy w/o any consequence, or, while shut down, can just print $ to cure the harm. What if they are wrong? What about *that* uncertainty?https://twitter.com/willchamberlain/status/1241380220415901697 …
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The amount of business failures, joblessness, mortgage default and car loan defaults will be something we won’t recover from for 10-12 years. It took us almost 10 years to recover from 2008 and this will dwarf that. Factor it automation and it only makes it worse.
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Our public schools are not set up for remote learning either (especially on the K-5 level). We’re taking away all forward momentum from our kids right now. We’re not Italy and we’re not seeing the numbers the doomsday modelers promised, not even close. Just look at WA.
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Any furnace that ‘Goes Out’ always takes a longer time to start throwing the heat..US Economic furnace has been put out..it will take a while to startup and throw profits..just a fact !!!
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Thats the truth. We wont really know for 3 months.
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Agree; it's an optimal timing question. I think some of those unworried about the shutdown effect have some assumptions about how containable the consequences of the shutdown effect is that is far less certain than they think it is. We have two different uncertainties competing.
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There’s no uncertainty about the economic ruin that’ll result because of this. Small businesses are going to fail quickly at the same time that big business spends everyday focusing on job reduction via automation. People won’t come back from this.
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I can tell you from a small business perspective after 36 years of owning one - we are looking at a MINIMUM two year recovery from this. You can't throw the entire world economy in Park then put it back in Drive and expect it to recover very fast. It's not going to snap back.
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Dead on ! this is like taking an old 70 Caddy cruising at 60 and throwing it into park ! eventually stalls gears broken floods out lucky if it even starts then put it in drive and you realize you need a tow truck or a Junk yard ! Cheers mate !
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Trump seems supremely confident that we can restart economy rapidly. Unfounded?
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