April 8, 2020
Good news! Relief checks should start arriving this week!
A year and half of social distancing until “normal”?
Dr. Zeke Emanuel, an ObamaCare creator and now a Biden advisor, said on Monday that not much can change until a vaccine is in wide use.
“We need to prepare ourselves for this to last 18 months or so and for the toll that it will take…”How are people supposed to find work if this goes on in some form for a year and a half? Is all that economic pain worth trying to stop COVID-19?”
“The truth is we have no choice. … We cannot return to normal until there’s a vaccine. Conferences, concerts, sporting events, religious services, dinner in a restaurant, none of that will resume until we find a vaccine, a treatment, or a cure.“
Anthony Fauci predicts a similar timeline, suggesting that schools might reopen next fall.
The truth, of course, is that there will be no recovery. Instead we will create a new economy and social norms as we move ahead…
- How willing will parents be to send their kids into classrooms crowded with strangers’ kids after a year of constantly improving online learning?
- Will online school be the “new normal”?
- What about pre-school and day care? After telecommuting for a year will parents really be willing to leave their small children in a traditional day care all day?
- Will business owners continue to pay for expensive office real estate after months of less expensive telecommuting?
I think we are in for some huge changes in the way we live and work.
Millennials, burdened with staggering school debt largely shout out of the real estate market are delaying marriage and childrearing, spending more years living with parents, and face gig work instead of careers. They are entering a new and unknown phase of the future.
Shopping malls may not survive COVID-19.
Already challenged by online sales and a growing perception of being “old school” mall owners are rethinking their business model. Their future does not look bright…
Congress is flooded with more relief and stimulus bills…
Democrats are calling for adding more money to the Phase Three CARES act, and moving ahead with another $2 Trillion dollar relief package. All of this money would be added to the national debt, increasing taxes and decreasing GDP. In a nutshell that means a long-term decrease in the overall standard of living.
Will the United States – and the rest of the world – hold China financially responsible for losses?
Already politicians and talking heads are casting blame for the pandemic on China…
Lindsey Graham, chair of the Senate appropriations subcommittee minced no words this morning…
“Without China being irresponsible, lying to the world about the way the disease is transmitted, withholding information about the level of infection, silencing doctors, there would be no pandemic…China is a pandemic incubator. These with markets create conditions for the virus to spread to the human food chain, from wild animals like bats and monkeys.”
Andrew Napolitano floated the idea class action suits against China on Fox and Friends this morning.
How would China react? In the last twenty years they’ve made incredible strides to join the rest of the world in building a consumer centric middle class. They would not be likely to compromise those gains easily. Tensions have been simmering in the South China Sea for years and military conflict might be inevitable.
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