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Thursday, March 26, 2020

Is the cure worse than the disease?

Wall Street Bull
Yes, I realize that asking this question makes me sound like a right wing, Trump supporting thug, but I wonder. Forbes has a story, wherein I found this:
The business-first side, meanwhile, cites lost dollars. [doom & gloom from the banks] One Federal Reserve official, Mercer Bullard, said yesterday that unemployment could reach 30%, the highest in American history. (During the Great Depression, joblessness peaked at 24.9% in 1933.) These numbers feel like an almost self-inflicted wound given that just four weeks ago, the economy seemed headed to another year of healthy growth amid the longest expansion in American history. - Abram Brown
And before you go quoting the number of dead, remember that in the USA, 7,500 people die every day.

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