What i fear is gonna happen in US regarding Coronavirus situation (i hope i am wrong). Thread
@ptcherneva @barua_ashish @sashi31363 @joefirestonephd @MitchGreenNEP @StephanieKelton @DanielaGWalls @stf18 @davidsirota
@ptcherneva @barua_ashish @sashi31363 @joefirestonephd @MitchGreenNEP @StephanieKelton @DanielaGWalls @stf18 @davidsirota
US has no leadership. No specific plan of action. No concrete policy on dealing with Coronavirus situation. It also looks as if Trump Admin don't understand the problem in the first place. Measures being taken by US Govt are delayed, reactive, half baked & poorly implemented.
Trump Admin is more worried about falling stock markets. Their answer to every problem is Fed rate cuts. But Fed rate cut isn't gonna solve the underlying health crisis in US in any way. Primary focus should be dealing with public health emergency.
US is depending too much on private healthcare, insurance and Pharmaceutical companies. These private companies work only on profit incentive and self interest. They do not have any guiding principles or any real motivation to work on public emergency.
As a public health emergency, Trump Administration should've made ALL flu treatment and testing free, regardless of insurance plans. But they didn't do it. I think Trump wants American people to cough up $$$ to get tested and more $$$ to get treated.
Only reason as i understand, US delayed procurement of testing kits. Trump Admin doesn't care about public health emergency. And private healthcare, insurance & Pharmaceutical companies want people to pay big $$$ for testing either directly or through Govt subsidy.
And problem will be bigger in case the antivirus drugs and vaccine for Coronavirus as private companies will work to maximize their profits on these treatment drugs. While its a public health emergency, Coronavirus is actually a great business opportunity for these companies.
Economy will face major disruption. In case of major outbreak, more & more people will miss work as they fall sick & as a precaution. Fed rate cut won't gonna make them go to work. But real problem will be shortage of essential goods & services due to disruption of supply chain.
Most manufacturing is outsourced to China and China won't be exporting essential goods to US as China itself will manufacture goods to deal with their own shortages. Shortages of Protective gear, Masks, medical equipment etc will cause problems for US.
Then we come back to full circle. US will have all kind of problems but US Govt will have no leadership, understanding & policy response to these problems. They will be shooting arrows in dark like Fed rate cuts, propping up stock markets, and also a lot of PR management.
