This Country is an Embarrassment
Taiwan is currently being seen as the Gold Standard for dealing with coronavirus. They shut down all their schools end of January for one month. (Whether necessary) they required everybody to wear a mask. No hoarding as masks were distributed by pharmacies; every family received two masks per person per weak. After one month life was back to near normal. I guess they've imported some newer cases but they're managing things.
South Korea was caught off-guard but once they became aware they simply used the test kit recommended by the WHO and ramped up available test kits and the ability to process them by the millions.
If you're not familiar with the Seattle backstory, local health agencies wanted to test for coronavirus many weeks earlier but the FDA-CDC wouldn't approve them doing so. CDC instead wanted to create a better mousetrap which took time and then was a failure.
This country has utterly failed to create the number of test kits needed or the ability to process them. It goes well beyond test kits. There's too many rules and regs. "All hands on deck" means nothing if the right hand fights the left hand. This is why declaring a National Emergency was necessary to try and unplug the plumbing. They model for stuff like this but when it actually happened, our system went into a fetal position. Meanwhile Taiwan and South Korea trusted their own scientists and experts and took action.
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Originally Posted by DenvertoLA
idk man, our economy is built on a LOT of corporate debt right now, and the fed just gave up all their leverage...it's a stack of cards I'd say.
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There is potential for some liquidity issues and stress on the financial system but nothing I see that the Fed (or Congress) can't handle.
Very difficult to project out since this nasty bug could become a part of life. But the pending recession is basically a self-induced demand side issue and I still believe much better than when there has been these huge supply bubbles of credit and housing.
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