Martin Langeveld, former publisher of the Brattleboro Reformer, predicts a lasting, negative impact from our response - necessary as it may be - to the coronavirus.
"But the question now is, how significant an economic downturn will we see? Well, if you believe one respected analyst, Mike Wilson of Morgan Stanley, it's time to get back into stocks. On Friday, the stock market seems to have followed his thinking and rose 9.36%. But you know what they say about dead cats. I don't know what Mike Wilson is smoking, but he hasn't talked to the hot dog man outside his office building, or to the bartender at the fancy joint where he drinks his martinis, both of whom probably have a better perspective on things.
The reality is that we now have a complete shutdown mentality spreading around the world faster than the virus did. Central governments are officially putting lids on travel and mass gatherings or all kinds. The private sector and local governments are following suit by shutting down small events, schools, churches, museums, conferences and the like. Seniors are advised to cocoon at home. Pretty much everybody else seems to be planning the same, emptying supermarket shelves not only of toilet paper, but also of water, frozen foods, meats, and cereals."
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