Look, there has to be a silver lining to the outbreak of a major pandemic in this modern age.
I don’t mean to make light or joke around at anyone’s expense; there are real people who have died in this pandemic – made worse by the actions (or lack thereof) of powerful leaders.
In watching the worlds’ nations reaction to #coronavirus, some nations are reacting swiftly, bringing all resources to bear, others – have different considerations.
We have seen some countries at first deny a problem exists, then ignore science, then ignore emergency protocols because their primary concern goes to the economic impact of the disease.
We have also seen places act proactively when given proper information, grant full disclosure and transparency, act with a life-preservation motivation at every step.
The first model is a politically driven response which attempts to mitigate financial and/or political fallout from any panic coming from the pandemic, while the other model puts aside the politics/money and mobilizes government resources and tools to whatever extent necessary.
The first model is being used by America and some European nations, the second is being deployed by Canada, most Asian jurisdictions and elsewhere. The first being a generically right-wing model, the second is a generally left-ish response.
Guess where you’re finding the problems? Not on the left.
In fact, in a crazy sense of irony, the left wing approach may save the right. By using the full weight of government action, public healthcare and generally being proactive, the significantly larger cost up front may be the most efficient way to navigate this disaster.
Inversely, the right-wing model, loaded with its layers of political and fiscal policy tests, is proving no match for a virus that doesn’t give a shit about policy. So we lurch from willful ignorance to overreaction causing various financial markets to crash – in a world where markets are particularly sensitive to instability.
So what do the capitalists do? Unload $1.5 trillion into the markets to give it a jolt and make it better. It lasted 15 minutes and evaporated faster than rubbing alcohol.
See that tiny bump before it plummeted? That’s $1.5 trillion from the federal reserve.
To put another way, we could have wiped out all student debt w/ that $. Instead our government injected it into the stock market to stop what it ended up doing anyways.
That’s capitalism. pic.twitter.com/l5EbgrCSyI
— 🌹 Obiden bama 20..uh…3030330 (@ericisaac) March 13, 2020
Here’s the bottom line.
We’ll get through this, some places will fare better than others. I for one, am grateful for our public healthcare system that places patient-care above profits. For all of its flaws, this is a far superior model to one that is profit motivated and subject to the politics of the day.
Let doctors and healthcare pro’s do their jobs. Listen to first responders and civil authorities. Don’t over-react but don’t take chances either. These are uncharted waters for many. Whatever economic slowdown may happen as a result will be followed up with a recovery, and hopefully, positive change.
Hang in there everyone, we’ll be ok.
my2bits
The view from Pete 