Balancing The Economy With The Pandemic Response

https://nypost.com/2020/04/05/stephen-moore-warns-us-could-be-headed-toward-a-great-depression/


Good morning all,

It's a balancing act involving difficult decisions.

 

I have no doubt whatsoever that we're heading for a major depression. I think US will be in a better position with Trump but Australia is going to be in a worse position. Personally, I think the damage to the economy is done. Unless there is a big change in the near future, we're screwed.

What worries me is how the general public is going to cope. I can see a massive fallout. Actually, it's already started. People who had good positions and were comfortable financially are now struggling. All these successful people are talking about the stress and anxiety they are now living with, suddenly with no income, massive rent and mortgages, and no idea about their futures, etc. Poverty, homelessness and crime is going to skyrocket. There's no corner of society that isn't affected. It's a total disaster.

 

The only "cushion" is to burning $ (stimulus package)