This story got a bit of attention on talk radio Sunday: Fed's Kashkari calls for 6-week economic shutdown to control coronavirus spread. Google key words.
Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, called for a nationwide economic shutdown for up to six weeks to get the coronavirus pandemic under control on Friday, warning that the rest of 2020 could be much worse than what America has experienced so far.
"The next six months could make what we have experienced so far seem like just a warm-up to a greater catastrophe. With many schools and colleges starting, stores and businesses reopening, and the beginning of the indoor heating season, new case numbers will grow quickly," Kashkari wrote in a New York Times op-ed with Dr. Michael T. Osterholm, the director of the Center for Infectious Disease Research and Policy at the University of Minnesota.
Kashkari echoed comments he made a week ago on CBS's "Face the Nation," when he argued that "if we were to lock down hard for a month or six weeks, we could get the case count down so that our testing and our contact tracing was actually enough to control" the spread of coronavirus.
President Trump has insisted that states resist the urge to roll back reopening. He said earlier this week when asked about Kashkari’s comments that the country is “not going back to shutdowns.”
I will come back to this later, but for now:
- Kashkari obviously does not understand this virus nor viruses in general.
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Executive Orders
Futures: early Sunday evening all major indices were slightly negative. The day before, President Trump, signed several executive orders to help those hurt by the coronovirus. Schumer/Pelosi managed to find a way to spin the story. However, as things developed, the Dow futures and S&P both rose during the night, peaking about 120 points for the Dow early Sunday evening, and now at 115 points about 3:30 a.m ET. See graphic below.
I'll come back to this one, also. It's fairly interesting.
AAPL at same time (the figure at the left, was the close on Friday):
I agree with Neel Kashkari. With the amount of new cases every day, and the outbreaks in Georgia at the day camp and high school for example. Need to reduce the new cases to reasonably do effective contact tracing.
ReplyDeleteWe'll start here:
Deletehttp://themilliondollarway.blogspot.com/2020/08/cash-plan-to-lock-down-us-for-six-weeks.html