40% of the US economy is discretionary spending

40% of the US economy is discretionary spending.

Discretionary spending is down by half already.

....

The upside is we might get universal medical care and some form of UBI.

Or those in power stall and run too close to the red-line.

Then we get social unrest. A very polite term for "land reform".

We are going to need to be kind to all of our friends who repeated the "just a flu" line.

We are witnessing our global economy contract in a way we have not yet seen - or at least rivalling the Great Depression.

All bets are off.

https://www.newyorker.com/news/our-columnists/the-coronavirus-calls-for-wartime-economic-thinking?utm_source=facebook&utm_medium=social&utm_campaign=onsite-share&utm_brand=the-new-yorker&utm_social-type=earned&fbclid=IwAR0YJGG7TuwGn__hvh80-7-5FbNBtdRr3q3x4oprVJ9XeyYcZLYu5WcopHA

Originally posted on Facebook on March 17, 2020.