April 6, 2020
On Saturday President Trump held a conference call with sports commissioners in which he expressed the hope to return to a normal professional sports schedule in time for college football in August.
Queen Elizabeth upstaged Trump the next day…
…giving him and very other flaccid American politician a lesson in inspiration and leadership with a rare nationwide address. Invoking the proven grit and solid determination of the British people, her address immediately received enthusiastic endorsements.
“I am a strong believer in nationhood and American exceptionalism. But the inspiring address about the coronavirus that Queen Elizabeth II delivered on Sunday transcends national borders. We should be thankful for the United Kingdom’s monarch. Even though she is not our queen, in an allegorical way, she is everyone’s.”
“In just five brief minutes of calm empathy, fortitude and history, the Queen inspired her people to overcome this coronavirus crisis better than President Trump has rallied Americans with 50 hours of rambling, self-promoting twaddle.”
Watch her four-minute address, Americans and take a hint…
This won’t be over any time soon…
The American people are way ahead of politicians on the question of returning to pre-COVID-19 routine.
According to a poll by Huffington Post/YouGov even if restrictions are lifted most Americans plan on staying home. About 61% say would stay home, while only 19% return to pre-restriction routines.
Peter Bakers vision of the future, posted last Tuesday, “We can’t go back to normal” is still getting a lot of attention.
On Friday StatNews polled health experts who agreed that not enough data is available to predict date for a lifting of restrictions. However, Michael Mina, of Harvard’s T.H. Chan School of Public Health, ventured that “at the very least this is going through May”.
On Sunday Anthony Fauci warns the COVID-19 virus will likely become a seasonal flu. The administrations front man on C19 appeared on Face the Nation on Sunday.
Someday COVID-19 will be little more than a bad memory, but the social and economic changes it started with stay with us for some time.
In some ways permanently…
“We should certainly be prepared for a meaningful level of deliberate suppression of economic activity for the rest of the year,” said Jason Furman of Harvard University.
Earlier today Janet Yellen, former Fed Chair, gave a downright chilling assessment…
“If we had a timely unemployment statistic, the unemployment rate probably would be up to 12 or 13% at this point and moving higher…” Adding that gross domestic product – a measure of national wealth — is down “at least 30% and I’ve seen far higher numbers.”
She also spoke about our economic future, referring to a “U” – an inverted bell curve, and an “L” – a long term flatline.
The kind of thing medical dramas show when someone dies.
“The more damage of that sort is done, the more likely we are to see a ‘U,’ and there are worse letters like ‘L,’ and I hope we don’t see something like that.”
Spain announced it will enact a Universal Basic Income (UBI) program as soon as possible. Economy Minister Nadia Calvino stressed the UBI program is not a temporary reaction to c19, but will become a permanent part of the Spanish economic structure.
Economic disaster is not limited to Western and Asian countries.
On Saturday the UN Development Program Director for Africa was quoted as saying, “We will see a complete collapse of economies and livelihoods. Livelihoods will be wiped out in a way we have never seen before.”
Also on Friday, International Monetary Fund (IMF) Director Kristina Georgieva shared a dark assessment of the global economic and health crisis:
“This is, in my lifetime, humanity’s darkest hour – a big threat to the whole world – and it requires from us to stand tall, be united, and protect the most vulnerable of our fellow citizens.”
The IMF is a central bank, like the Federal Reserve, but serves 189 nations. Georgieva pledged One Trillion in financing to the world.
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