Quote:
Originally Posted by Tyrone Slothrop
I don't disagree with you that there is going to be a lot of economic pain. I said I didn't see how we could avoid a recession weeks ago. We really do need businesses to shut down, if they rely on physical presence. A lot of people are going to die because our hospitals are going to be overwhelmed. If businesses have to close to slow the spread of the disease and save lives, that needs to happen.
I really marvel at how slowly some people seem to be grasping the severity of the situation. Hospitals in California are canceling elective surgeries -- think about why. eta: Seattle is worse. And this is just starting. |
I say this without hint of hyperbole: This is worse than 2008 by many multiples.
2008 could be addressed because it stemmed from one thing: MBS. Fix banking, fix the problem.
This is a health disaster which will metastasize through not only all elements of the economy, but also the social fabric of the country (which is already frayed).
The only way to deal with this is a nuclear option. Forced shutdown of all but essential services.
Now.
And we needn't take that economic pain, which would be distributed unfairly. We needn't say, "Oh well, it's always a bad idea to own an eatery" or "Well, bricks and mortar retail was already fading," or "Find another gym." No. We can and must save those people because It's Not Their Fault.
And the way to do that is to freeze time. Sixty day national forbearance.
(Adder, don't tell me why this is cumbersome, or impossible. It's not. It's totally doable. If we can pass that sick leave bill - which as structured will do very little to help any workers - we can freeze payment obligations for 60 days.)
