As the US death toll grew to almost 150, states are ordering more shutdowns. Hospital employees are making their own face masks or sometimes using them twice. And doctors are begging the public to keep their distance from others.
“We’re talking about potentially 12 or 18 months of this,” Dr. Michael Osterholm, director of the Center for Infectious Disease Research and Policy at the University of Minnesota, told CNN’s Jake Tapper. “And so while we have to plan each day’s battle, as has been said, this is a war. We’ve got a number of days of battle to do.
Investor Ray Dalio told CNBC on Thursday the coronavirus outbreak will cost U.S. corporations up to $4 trillion, and “a lot of people are going to be broke.”
“What’s happening has not happened in our lifetime before … What we have is a crisis,” Dalio said in a “Squawk Box” interview. “There will also be individuals who have very big losses. … There’s a need for the government to spend more money, a lot more money.”
The total U.S. GDP at the end of 2019 was more than $21 trillion. The founder of the Bridgewater Associates hedge fund also estimated the global corporate losses will amount to $12 trillion due to the pandemic.
Got that? So far, “almost” 150 people have died from the coronavirus, with 8,000 cases total, most of them with mild to non-noticeable symptoms. But the state and local government panics over the virus will blow up over $4 trillion in corporate earnings and probably involve that much in new government spending when all is said and done.
If you think there are “two Americas” now, just wait.
Some guy in China apparently just had to eat a bat (if you believe the academic narrative), academics are running bad, incomplete data through a software programs and cranking out ever more dire predictions, causing state and local governments to spontaneously nuke their tax bases, and they’ve destroyed the global economy.
And when there are relatively few deaths from a virus that has probably already worked its way across the country during the colder months, they will proclaim their efforts a success. How would we ever survive without bureaucrats?