Rancid wrote:What do you thin should be done to deal with this virus from an economic perspective?
I think identifying products that are a national security requirement and ensuring they are made in the US. Naturally, I would start with pharmaceutical ingredients, drugs and medical equipment.
Rancid wrote:The fake money tends to get dumped into worthless activities and so creates perverse incentives.
That's the problem. That's why I say the solution is terminating the outsourcing of anything deemed a matter of national security. Health care is something a country the size of the United States should not be relying on from a military adversary. It simply makes no sense.
I generally don't wish death on anyone, but I think it would be great if maybe one of our billionaires got coronavirus and died from it. What makes this a panic is that it is as deadly as the Spanish Flu, but it is as contagious as the common cold--that is, really easy to get it. From there, it's a roll of the dice. Some are totally asymptomatic. Others end up dead. People don't freak out about AIDS anymore, because it's pretty much transmitted by lifestyle. Same with epidemics like opioid addiction. People that don't abuse opioids don't freak out about it. People who don't have promiscuous sex with homosexuals don't worry about AIDS.
Everyone has to worry about coronavirus, because of its contagiousness. However, we've encountered multiple infections like this coming from China, because they allow wet markets. Food in the US is pretty well monitored by the FDA. People here don't see cockroaches and envisage a meal. They get out Black Flag or Raid cans and kill them. China is a different animal altogether. With a history of starvation under Mao, etc., even bugs are a meal there, not to mention bats (flying rats for all intents and purposes), etc.
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