"Even as reality continues to intrude,..Trump has either largely dismissed or ignored his science and medical advisers. And the result is that the economy, the one thing he seems to care most about..has been devastated."
nytimes.com/2020/08/18/opi…
nytimes.com/2020/08/18/opi…
"Among developed nations,..US ranks first in categories one would prefer to be last in: number of cases and number of deaths. It lags well behind in economic recovery as well."
"Containing the virus has allowed many European economies to recover far better than the US"
"Containing the virus has allowed many European economies to recover far better than the US"
""In..April..business in restaurants in Germany and..US were in the identical place, down over 90%.,Since then they have diverged..widely: data for Aug. 16..shows German restaurants enjoyed 9% more business than last year..while US restaurants were down around 50%"
"Morgan Stanley model predicts that under current policies the US is currently on track to have 150,000 new cases a day later this year. And that number is not even a worst case. If we do suffer case counts anything like those, dramatic growth in the economy simply won’t happen."
"If the U.S. goes into the fall with new daily cases in the tens of thousands, as they are now, then the numbers could explode and the Morgan Stanley prediction could come true. Considering our containment efforts to date, there is little reason for optimism."
"If that occurs, the economy will not come back..Jerome Powell,..chairman of the Federal Reserve, said..'The path forward for the economy..will depend..on our success in keeping..virus in check..A full recovery is unlikely until people are confident that it is safe to re-engage'"
