DuckIII wrote:Thats because it’s monstrous. You can’t evaluate quality of life to minimize negative economic outcomes. Those of you stating that people are going starve to death, riot and start committing suicide in huge numbers are the ones spreading irrational fear, not the other way around.
No one is stating that this is happening now, but this argument is the equivalent argument to saying, jeez only a few hundred people died in the US due to coronavirus, why are we doing this.
This quarter is going to make a run for the worst economic downturn in the history of the United States, including anything that happened in the great depression, so things are going to get a lot worse than they are right now, and the longer we stay in this state the worse they will get.
That said, as I've said before, I don't know that you could prevent anything. With no shelter in place command, people were already radically changing behaviors, but what the shelter in place edict has done has steepened the economic pain curve. Hopefully the cheap funding that the government is making available to corporations is enough to keep us from crossing the dotted line on the economic curve where the system collapses.
It really depends how long we socially distance and how fast things move back to normal when we are done.
And doing so based on what are highly likely personal concerns with individual finances and not macro considerations for the good of all.
Just as a disclaimer, I do not know of any middle class person (consider myself middle class) with less financial risk in this situation than I have. My job is counter cyclical and can be done remotely and I moved almost all my investments into cash, much of it prior to the crash. I actually expect to come out extremely well from this with a little bit of timing. I think in six months you will see one of the greatest buying opportunities in your life time if you have cash.