231

submitted 4 months ago by return2ozma@lemmy.world to c/usa@lemmy.ml

48 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[-] triplenadir@lemmygrad.ml 3 points 4 months ago

yes that's exactly the evidence from the 1918 flu pandemic showed: places which locked down harder and longer had quicker economic recovery. This is probably even more the case with COVID which is leaving people longterm, if not lifetime, disabled.
the documented reason for recent inflation in the US is corporate greed, the only thing COVID did was give corporate execs an excuse

[-] EatATaco@lemm.ee 1 points 4 months ago* (last edited 4 months ago)

Can I get a citation on this? I searched and found nothing. But also the comparison is hard because the COIVD-19 lockdowns were much more severe. Like we had a complete shut down, most of the spanish flu there were few actually "lockdowns" as most businesses were allowed to stay open, it was more schools and public institutions were closed. They even still held parades and public celebrations. Additionally they were shorter in length. If "length of lockdown" is a good indication of how strong you come out economically on the other side of a pandemic, then we should have been way better off. Additionally, the economy has rebounded very weel, it has just come at the cost of inflation.
This is untrue. Plenty of inflation was due to disruptions and monetary policy during the pandemic. It was almost a deliberate choice by the fed to pump money into the economy, to keep people employed, at the cost of inflation, as they figured that was better than a huge economic downturn, or even another depression. Sure, some of it now is corporate greed, as they realized they could raise prices and people would still pay, but it's by and large due to policies during the pandemic.

this post was submitted on 06 Jun 2024

231 points (86.0% liked)

United States | News & Politics

7178 readers

486 users here now

founded 4 years ago

MODERATORS