Thread by @wolfejosh

1/ EXPECT: $100 billion plus bailout of US AIRLINES

There will be roughly this much or more lost revenue, hundreds of thousands of jobs (maintenance workers, service, pilots, flight attendants, etc)

Public will NOT be outraged like bailout of Detroit or Banks...because...

2/ Detroit + Banks were both human agency (unions) + (bankters)

Where is this is VIRUS ‘force majeure’ with no agency/‘free will’

The hotels, taxis, restaurant industry lobby will also seek FEMA-like Federal funds...

3/ Cities that rely heavily on 80/20 annual punctuated events for huge conventions + conferences (like Austin’s SXSW) will seek Federal + State emergency funds to make up for tax-revenue shortfalls... (the very funds that provide for first-responders + health-care providers)...

4/ A recession—let alone a market-led recession creates panic from Trump who is focused only on stock market for re-election. He further pressures Powell + Fed (but more LIQUIDITY does not stimulate fear-halted commerce)...

5/ But the real risk + complicating factor is the bailouts of cities + sectors (airlines, hotels, transit, hospitality, restaurants)...

6/ I see 3 age-cohorts in gathered places w/3 diff. results
-KIDS/YOUNG (schools closed temporarily to help halt spread for ~2 wks, low risk)
-ADULTS (offices close to halt spread, med. risk, few deaths)
-OLD (retirement communities/homes see horror stories hi risk, many deaths)

7/ on ENERGY — will be very interesting to see the moral crusading anti-hydrocarbon inauthentic-ESG asset-gatherers reactions to US workers + pensions vs. geopolitics of Russia squeezing US producers for advantage—and whether US gov bails them out too
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