durobinet schreef op 11 april 2020 19:27:
If your age exceeds 32.5 years — we presume it does — you have witnessed two events that never should have existed in the entire history of Earth. One should not have existed in nearly two histories of Earth.
“May you live in interesting times,” runs an old Chinese curse.
You do. And they are certain to grow more interesting yet…
The present jailing of the economy will likely continue. The tinhorn tyrants in practice among us insist the incarceration must endure until a vaccine is out.
That of course may be 18 months distant. How can any economy withstand 18 months behind the bars?
It cannot, of course. But assume patches of the economy open by June.
Will Americans throng back to the restaurants, the germ-riddled gymnasiums, the arenas, the theaters, the airports… while the prospect of death by COVID-19 dangles over them?
We are not convinced they will. We have all been conditioned to live in terror of it.
Entire sectors will not recover for years — if ever.
Meantime, the monetary and fiscal responses underway have no equal.
We are borrowing grandly from the future to keep us going today. Thus we are blocking off the channels of future prosperity, so chained down by debt shall we be.
Meer:
dailyreckoning.com/it-never-should-ha...