Quote:
Originally Posted by Comrade
The cure won't ever be worse than the disease. We've taken drastic measures already and even then, the death toll from this pandemic in the United States over just the last month is pushing 30,000. Had we taken even more lax measures, the amount dead would be even more staggering.
Hell, the delay by many governors, and by the federal government, to move on this and push stay at home orders earlier, likely resulted in 15,000+ more deaths over that same span.
It 🞵🞵🞵🞵🞵 that the economy is taking a hit but you know what 🞵🞵🞵🞵🞵 more? An entire healthcare system collapsing because they're inundated with patients. And that's likely what would have happened (as kind of happened in New York) had we not taken such extreme measures in many instances.
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I think there is an argument to just letting it run its course. Yes, more people would have died (and I am not minimizing that (both of my parents are boomers, and are therefore in the 'at risk' category)) over the course of a month or so, but the economy would be relatively stable otherwise. I mean, they are projecting 25 - 30% unemployment, a 40% decline in GDP (absolutely catastrophic) and the economy not really returning to normal for another 3-5 years, and it would likely take the entire decade to fully recover, if ever. Unemployment will stay above ten percent for a minimum of a year, likely longer. hundreds of thousands of small businesses will go under, and large companies are learning they can work with less people. The ongoing retailpocalypse will hit overdrive, with likely many stores and malls permanently closing and laying off their workers over the next year.
This will likely destroy tens of millions of Americans' economic prospects and lives. I've been seeing more and more talk of 'revolution' which I would normally dismiss as typical internet stuff, but I think we will likely see potential increases in mass violence and instability in months and years to come if the recovery is slow. Especially since some places may recover, while others further decline and collapse. I suspect several cities will face bankruptcy and ruin, similar to what happened to Detroit, but over a faster period of time due to their overleveraged status.
Worst case scenario: The US is heading for decade or multidecade depression that will result in millions losing their homes, collapses in home values, tens of millions losing their jobs permanently, the collapse of several major and tons of small cities and towns, never-ending government bailouts, the slow decline of the dollar, and a significant portion of the population forced to file for bankruptcy which will negatively impact them for many years to come. I don't think these things can be easily dismissed.
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