Policy and Government
Newsmax reports on Director Kudlow’s statement that “The economic cost to individuals is just too great. More testing is essential. We’re loading up with tests now. That will be a big help … we will have to make some difficult tradeoffs. I’m not disposed to get ahead of the story. I spoke to the president about this subject last night. We’ll look at a number of different things. Let’s give it another week.”
In The Hill, Chris Edwards says boost supply, not demand, during the pandemic.
The Federalist warns a prolonged shutdown threatens our economic solvency.
“Economic prosperity is a matter of public health, too — the necessary condition for it, in fact. The United States must respond to the coronavirus accordingly.” The Washington Post‘s Charles Lane takes note of the post-WWII German Economic Miracle, recognizing the possibility of a strong and fast recovery for the US economy: “There is a rational basis for hope: History shows that communities can absorb horrific shocks and recover, from the German postwar “economic miracle” to New Orleans’s rebound from Hurricane Katrina, or, indeed, the U.S. comeback from the Great Recession of 2008. A strong ‘V-shaped’ recovery is still thinkable.”
The Washington Post, reporting on Trump’s announcement that “America will again and soon be open for business — very soon,” on the grounds that “The various arguments, which are gaining traction across the political right, can be boiled down to this: No matter how many people may lose their lives to the coronavirus, many millions more stand to lose their jobs and face ruin if the economy does not reopen” notes that “Conservative economists Stephen Moore and Art Laffer have been lobbying the White House for more than a week to strongly consider scaling back the recommendation that restaurants, stores and other gathering spots be closed, although exactly what that would entail remains unclear.”
Monetary
From Newsmax, Ralph Benko says Trump can turn our economic debacle into a miracle with the gold standard.
MarketWatch reports the Fed announced ‘QE Infinity.’
Spending
Dan Mitchell discusses coronavirus and the dangers of big government: Part 1. and Part 2.
Steve Moore, in a syndicated column, bemoans the $5 trillion in federal spending as money down the drain.
Photo Credit: https://www.governmentattic.org/30docs/VisitBullionDepositFtKnox_2017.pdf