[My (non-expert) understanding of the game.] While waiting for a vaccine, we must, 1. Keep infections low enough so as to not overwhelm health care capacity; while, 2. Preventing the economy from collapsing, which is, uh, often a violent process.pic.twitter.com/V2j0xck413
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My guess to the immediate culprit of the eroding buffer is financialization. Liabilities make you inflexible.
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Yea. That's seems like a good guess for where the contagion is... ...again.
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I’m not sure I know much. But when I think about it, it seems like this is the issue: COVID is going to make our economy shrink because it’s a shock on demand. But the way our culture and resulting social/political/Econ systems are set up...
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...we just can’t allow the economy to shrink. There’s something deeply embedded in our society somewhere that just cannot tolerate economic activity shrinking, even for a brief period, even when it is the most natural response to circumstances.
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