Economists say Trump's coronavirus reopening plan is dead wrong

[riversedge]

Source: ax





5 hours ago - Economy & Business


President Trump's proposal to get business around the country back open by Easter Sunday, April 12, will do more harm to the economy if the coronavirus outbreak has not been contained, economists say.

Why it matters: Such a plan would sow uncertainty in markets and among customers and business owners and make the recession longer and harsher.

Threat level: "We are still significantly behind the curve in containing coronavirus and reopening the economy for political expediency in the middle of a pandemic, to which no has has an immunity, is absolutely mindless," Bernard Baumohl, chief global economist at the Economic Outlook Group, tells Axios.

"It will only delay a full economic recovery."

On the other side: A smattering of business owners and asset managers backed Trump's plan to push forward with lifting the lockdowns sooner than later.

David Neeleman, founder of JetBlue and WestJet, told Bloomberg that the suffering from a major economic downturn would outweigh the damage from the disease.

"If we go back to work and the disease continues to spread not only will people die and the 20% of our economy dedicated to health care be overwhelmed, but people won't have the confidence to resume normal activity.".......................................

Read more: https://www.axios.com/coronavirus-trump-reopening-economists-reaction-a1b1d589-583d-46d8-8aca-afffdd10d8f2.html?utm_source=twitter&utm_medium=social&utm_campaign=organic&utm_content=1100

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Kim Jong Surge
@kimjongsurge
·
3h
Replying to
@axios
Packed churches will create a huge second wave that adds to the infected count, roughly late April. But at least they owned the libs!
Norbert.Lothar
@lothar_norbert
·
3h
Replying to @axios

1.We need to contain the virus.
2.Eradicate the virus.
3.Rebuild our country.


arthur bernard
@arthur_bernard
·
3h
Replying to
@axios
When you’re told its safe to go out, consider the source. Don’t drink the koolaid or “tea”, remember their motto, “let them die”.

[Brainfodder]

1. DUH!

'nuff said?

[durablend]

2. "BUT I KNOW MORE THAN ALL THE ECONOMISTS COMBINED!!!!!"

Watch!

[LastLiberal in PalmSprings]

3. The doctors say "no" and the economists say "no" but a couple of people who have a stake

in "opening the country for business" think a couple of deaths is worth improving their bottom line.

Let's send them and Trump to a hospital full of coronavirus patients without personal protection and let them wander around for a couple of hours, shaking the hands of all the patients.

Let them put their own lives on the line for their stupid ideas.

[Bengus81]

4. Again,this ASSHAT has a 60% approval rating on how he's handling CV??!?!

On Gallup?? WTF??

[SergeStorms]

6. Don't ask me.

I'm as baffled by this as you are. My only guess is that not too many people are really paying attention. They hear the 10 second sound bytes and think they're "informed". I keep telling myself that the vast majority of people aren't political junkies like us, and that they don't search for the truth in order to be truly informed. This is why a carnival barker like Trump happened in the first place.

[EarthFirst]

8. The vast majority of that 60% don't know someone personally suffering from COVID

...or someone who’s succumbed to their illness.

I’m near certain in two weeks when this really gets going that number is going to plummet:

[keithbvadu2]

5. Economy before lives

Economy before lives

[Rube Icon]

7. Economists?

Excuse me, but an eggplant knows this is a lousy idea!

[Marthe48]

9. traitor hasn't closed anything

and it'll be up to the states to lift their closing orders, right? And even if the orders are lifted, sure doesn't mean we have to go out.

I hope that the heroic employees, active military personnel, delivery drivers and others who are suddenly the vanguard of support are not sacrificed on the altar of greed. I feel like the CEOs who want their businesses opened just think ,'well, if that worker dies, I'll just hire somebody else.' without considering that the employees have lives and loved ones.

[paleotn]

10. Exactly.

IQ45 has no power when it comes to opening businesses in individual states. That's up to governors and state legislatures. Once again, he's spouting bullshit. He has no idea how anything actually works.

[Brainfodder]

11. The media dealing with his BS is a dark comedy?

Too many fluff or DUH pieces and not enough hard hitting investigations into this beyond obvious criminal?

He's overwhelmed them with his badness?

In reality, it's because the media is Republican owned for the most part?

[Delmette2.0]

12. My simplistic formula

Wall street + Pandemic + Politics =