There is a tremendous amount of damage occurring to our economy right now. Any economist who thinks we'll simply be able to "turn it all back on" is a bit naive. This isn't something that will just turn back on - each day we go further into the shutdown, the more long-term damage
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I both agree and disagree. There is a tremendous amount of unnecessary damage being done to our economy right now that will make it impossible to "turn it all back on." Had different policy choices been made, I think it would have been possible to turn it all back on.
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I also think that the window is still open to make those choices, though it is closing fast. And, of course, I'm not at all optimistic that Congress and the President are up to the task.
So I think that we should all be aware that this lasting damage was a foolish policy choice.
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Eh. Humans are pretty resilient. I'm not sure this will end up like the great depression, where the stock market loses 85% of its value over time. It's possible, I suppose.
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I'm concerned that non-rich countries won't have it so easy. They won't be able to print money to cover loss of income like the rich countries, since so much of debt & imports are in foreign currencies.
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(1)This is a consumption based economy. If there is no money to consume it doesn’t matter if the switch is flipped. Real estate grinds to a hault and as such new construction pauses. Manufacturing stops with no demand. Hospitality is smoked. Do we really think restaurants
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(2)Will just open up again and hire everyone back? Where will the customers be? There won’t be demand to force hiring hospitality workers back. It will come back but the longer we go the more long term damage is done and the closer we get to really bad things.
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At some point you have to weigh the risk of destroying our economy versus the risk to people. If the economy fails as a whole it doesn’t matter if no one is sick. We’re all screwed any way and the deaths from a destroyed economy will be worse
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I get where you're coming from with this. This is a sensitive topic but we have to face the realization that people will be put in a tight bind financially and people could end up dying indirectly just from the economy being shut down. The problem is that I don't know of any...
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