'the economy' is not a real thing. It's a way we've chosen to exchange goods and services.
'indicators' are not real things. They're ways of tracking proxy measures for what's happening.
This is not a recession. It's a f*in lockdown. As it should be. We should adjust society, not die to keep it in a broken form.
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The challenge of quranteeing yourself in your house or apartment is that most of homes nowadays adopt the open floor plan design, amenities can be reached within 1 single span of space. So it's technically hard to lock myself in my room, because I'll need toilet, study desk, TV, etc. which are outside in the common area.
The problem we have is that if a part of people started bulking buying certain goods, say toilet paper, then the rest of the local population will have to follow. Because when the first sign of shortage of supply come (more specifically common supply of consumables tp, cooking oil, toothpaste, etc.) it’s in everyone’s own interests to hoard to survive, or “survive” relatively easier. So I can’t buy toilet paper today then I might as well start hoarding seashells as a viable alternatives.
covid US newspapers
Most US newspapers are talking about the economy/market on the front pages.
Here is a better assessment from Anne Applebaum:
The light is on, but no one is inside.
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