Is a National Lock down Imminent?
So the world keeps breeding a little bit more anxiety for us all.
How do we #FlattenTheCurve ? Based on insight from China and Italy, we go on lockdown and minimize social contact to reduce the spread of the virus. Not an easy thing to implement, let alone enforce.
NYC is taking things further than most cities by imposing rules effective on Tuesday that only takeout is permitted and all bars and nightclubs must close. This comes on the heels of closing schools until late April.
Colleges and Universities across the country have gone 100% virtual for their spring semesters and commencements are getting canceled.
The questions I have are:
-Is this enough to slow the spread?
-What does this mean for all the low-income and disadvantaged Americans?
-What does this mean for the economy, especially small businesses?
So many of the proposals are good in theory, but with many people without paid sick-leave, adequate (if any) health insurance and the inability to work remotely for a day let alone weeks at a time, we're looking at an absolute disaster.
Despite the fed dropping interest rates to near zero, futures tanked which again suggests the market is not going to be happy at 930am.
While it may be painful to shutdown cities to slow the spread of the virus, the pain will likely be temporary relative to the potential pain of the virus spreading even more than it has in the US.
We are living through a health crisis which has economic consequences, but it is a health crisis first and foremost. Hospitals need capacity to treat sick patients and we should all do our part through social distancing and checking in on the less fortunate when we can.