Okay, today in "Ellie tries to understand financial markets," why is the Coronavirus tanking stocks? 1) it's not going to, like, kill all the consumers 2) it will increase health care costs, and health care is part of financial markets So I'm confused?
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In this case you're talking about a VERY LARGE broken window fallacy If there's a plague and a bunch of people are in the hospital the value of the work they'd be doing otherwise at their jobs greatly outweighs the boost to the economy paying doctors to care for them
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Yeah - and even if it was somehow net-even, it's disruptive, so there's some losses in the shifts. You can't just turn endocrinologists into virologists, or whatever.
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