Libertarians who claim the government’s actions are worse than the disease, are giving the government too much credit. Consumers are driving the slow-down, not governments.
All tagged Covid-19
Enterprising, Economics Savvy, BYU-Idaho Students Try to Collect Valuable Plasma
This may be overblown. BYU-Idaho administrators might be clairvoyant and issuing warnings just to head off any bright ideas students might have to raise a little money. WRCBtv reports, “Mimi Taylor, spokeswoman for Eastern Idaho Public Health, told CNN that she believed the school put out the statement as a preemptive measure intended to keep students from getting any ideas.”
The Legal Peril of Going Without a Mask
One of my economics professors once told the class, “Freedom is a liability for those who can’t govern themselves,” which means this argument will be thrust into the courts. The rights infringement argument is heading towards, first, statute law, and second, possibly, into a common law brick wall.
Vegas Home Sales Defy Strip's Collapse.
Despite happy talk here and there, Las Vegas, with its dependence on frequent fliers and conventioneers, is in a bad way. During an earnings call for Las Vegas Sands, owners of The Venetian and Palazzo on the Las Vegas Strip, Sands President Rob Goldstein said, “We’re in a world of hurt here in terms of Vegas.”
The Loss of Truth
So while Trump’s true believers require no convincing as to the President’s assertion that Covid-19 will magically go away, his administration is taking control of the information. “The Trump administration ordered hospitals to bypass the Centers for Disease Control and Prevention and send all COVID-19 patient information to a central database in Washington,” reports USA Today.
Pandemic Wagering: Tesla or Table Tennis
If one were looking for clues as to why the stock market has rebounded while daily economic news grows worse, besides the Federal Reserve’s Jerome Powell “flooding of the market” with liquidity, another reason could be the flood of new punters betting on stocks, from high-flying tech shares to dead-in-the-water leisure stocks.
The Fed v. Covid-19
All this weakness has something to do with coronavirus, in the eyes of socionomists. In the March issue of The Socionomist, with the cover devoted to the virus, Matt Lambert and Mark Galasiewski quote Robert Prechter, “disease sometimes plays a prominent role in major corrective periods.”