Reminder: The 3 rules of pandemic economics
1. Get families cash, or people will die.
2. Get companies cash, or firms will die.
3. Stop the pandemic, or there will be a lot of death no matter how much cash you spend.
theatlantic.com/ideas/archive/…
1. Get families cash, or people will die.
2. Get companies cash, or firms will die.
3. Stop the pandemic, or there will be a lot of death no matter how much cash you spend.
theatlantic.com/ideas/archive/…
What we're seeing right now is the revenge of Rule 3.
In the three states with the sharpest increase in COVID cases—Arizona, Florida, and Texas—hours worked at small businesses are declining (via @TheStalwart)
In the three states with the sharpest increase in COVID cases—Arizona, Florida, and Texas—hours worked at small businesses are declining (via @TheStalwart)
Meanwhile, OpenTable data for Texas, Arizona, Florida, and Georgia is showing a clear story: a steady recovery followed by a sharp dip.
But it's not just those states. It's a national story.
The new COVID wave-on-a-wave is more widespread than the March/April outbreak.
And real-time data shows national small business revenue reversing after a nice-looking "V" recovery in May.
The new COVID wave-on-a-wave is more widespread than the March/April outbreak.
And real-time data shows national small business revenue reversing after a nice-looking "V" recovery in May.
Remember Rule 3: If you don't fix the health crisis, you haven't fixed shit.
Throwing money into businesses that can't open and families that can't go out might be a necessary life-preserving measure, but it won't give you a "V" recovery.
theatlantic.com/ideas/archive/…
Throwing money into businesses that can't open and families that can't go out might be a necessary life-preserving measure, but it won't give you a "V" recovery.
theatlantic.com/ideas/archive/…
