Does anyone else remember the short story "The Lottery?"
Listening to people talk about ending social distancing to help the markets recover, I'm strongly reminded of the that story.
"Lottery in Jun Corn heavy soon." It's sounds like a sacrifice for the common good, but it's essentially magical thinking. This feels the same. In a completely rational sense, the market should drop because demand will be lower because there will be fewer people to buy stuff. That basic equation hasn't changed, and industry sectors that will continue to be needed during a partial shutdown shouldn't be impacted at all.
That isn't what you see, everything went down in a panic. Now things are going up, but the fundamental equation of reduced demand hasn't changed and sectors that will continue to be impacted benefit as well. Yes there is a massive bailout, so that accounts for part of it, but the knowledge that there may be increased misery seems to be driving the market. Much the way a stock price will go up when layoffs are announced the stock price goes up. The business sense of said layoffs may make no sense and will only increase the misery for some people the stock price goes up. The stock market does not seem to respond to actual business events or results but other considerations, and misery seems to be as much a measure as anything else.
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in 1980.
Played 'Old Man Warner'.
Intense one-act play. Have re-read the story many times as well.
Our health should never be a lottery.
ONLY!!! 2019 and beyond.
