Trump Is Now Calling COVID-19 “The Chinese Virus”. But If The Global Economy Melts Down, That’ll Very Much Be A U.S.-led Phenomenon
How can banks possibly figure out who to lend money to?
Quick answer: they can’t.
In order to know that they’d have to have some idea of how much deeper the disruption of daily life in America is going to go.
And to know that they’d need to know how many people the virus is going to impact physically. And how many are already infected.
And how long will businesses have to be shuttered, at least temporarily? And how many people will lose their jobs? And how many people (and small businesses) will stop being able to pay their bills? And for how long: a little bit of time, or forever?
Time frames keep getting longer. Answers keep changing. The White House now seems to be going with a projection by infectious disease modelers and analysts in Britain. Their report shows Coronavirus deaths in the U.S. peaking in mid-June after rising sharply in May, and not really falling off until the end of the summer. And that’s the worst case scenario. With mitigation and/or suppression, cases might not peak as dramatically, and would likely spread out over many more months. Until development of a vaccine…
