The economy is impacted by people not spending as they were pre covid due to the desire to both avoid contracting the virus in locations they would have previously frequented as well as people saving more in fear of a weakening economy.
My savings rate has increased significantly since Covid as I am barely eating out at all due to the risk of contracting Covid via restaurants as well as worrying that the economy could get much worse and wanting to be prepared. I am just an average person so I would assume that there are many hundreds of thousands of people doing the same as me, thus the economy contracts.
My state is essentially not shut down at all, so very little impact is due to government regulations and almost all of it is due to personal spending choices. The less restrictions in place, the more the virus spreads and the less money I spend.
The economy is highly dependent on people spending and many people dont want to spend right now.
how so? Is there proof getting covid grants lifetime immunity? If not, how does that effect the plan if we assume that everyone gets covid at least once a year? Every year you now have a chance of dying from Covid, and overall life expectancy is chopped globally. Are you ok with 250k deaths a year from covid every year going forward?
Why would people spend more if the virus just keeps going?
Again, my state has no restrictions in place that I am aware of and no one is spending and businesses are closing.
That does not seem like a great plan.
I think a better plan is to keep the virus under control, prevent needless deaths and then get vaccinated, especially now when we are so close to a vaccine release. Why risk the lives of tens of thousands of people when we can just all wear a mask and get vaccinated?
> Is there proof getting covid grants lifetime immunity?
No, and there never will be since medicine is not mathematics. But nor is there any reason to believe our immune systems can't deal with this virus like they deal with any other virus.
> Are you ok with 250k deaths a year from covid every year going forward?
250k/7.8 billions = 0.003%. Yes, I'm fine with that.
> Why risk the lives of tens of thousands of people when we can just all wear a mask and get vaccinated?
That's a hypothetical question considering we don't have a vaccine yet and masks are hardly the only restrictions.
My savings rate has increased significantly since Covid as I am barely eating out at all due to the risk of contracting Covid via restaurants as well as worrying that the economy could get much worse and wanting to be prepared. I am just an average person so I would assume that there are many hundreds of thousands of people doing the same as me, thus the economy contracts.
My state is essentially not shut down at all, so very little impact is due to government regulations and almost all of it is due to personal spending choices. The less restrictions in place, the more the virus spreads and the less money I spend.
The economy is highly dependent on people spending and many people dont want to spend right now.