I think the fundamental thing about Delta and the economy is this: The places that are going to be hit worst by it are unlikely to lock back down, and the places where people might be willing to lock back down aren't going to be hit as badly by it.
In highly vaccinated blue states, people will still get it, but if the UK is any preview, the stress on the health care system won't be that bad, which will reduce pressure to close things back up.
Delta could still mess with things, both in obvious ways—some people will become more hesitant to travel and go out—and in unpredictable ones. But I'm just much less worried about the economic threat than the public health threat in low-vax communities.

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More from @JHWeissmann

22 Jul
FRED IS DOWN FRED IS DOWN I REPEAT FRED IS DOWN Image
This is like Pearl Harbor for econ Twitter
Or maybe more like the Chernobyl? The Texas Power Grid failure? Depends why it's down I guess...
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I can tell you based on Slate's traffic today that, yes, everyone on the Internet is in fact reading the Cat Person story.
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We don't really know the full extent of the issue. But frankly, I don't think it's much of a reason to be upset.

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