There is definitely going to be a second wave—we just know that that’s the nature of a pandemic. There is a mathematical certainty that as people start leaving their homes, as they start interacting with each other more, they will see a reemergence and a growth, again, of the coronavirus. And so what we should do is look to history: During the 1918 flu outbreak, in San Francisco, more people died in the second wave of infections than in the first. The reason why is, when the flu started spreading, officials said go into your homes and wear masks, and people listened. Things got better and started gradually reopening. Then a second wave began and the public health officials said, once more, go into your homes, wear masks. And people said they didn’t want to wear masks anymore. In fact, there were anti-mask riots in San Francisco.
CNN, 9 January 2024, has Trump saying "I don’t want to be Herbert Hoover." CNN adds: "The US
stock market crashed during former President Herbert Hoover’s first year in office in 1929, which
signaled the beginning of the Great Depression." See my work on the Trump Depression
Saturday, May 9, 2020
The second wave, the first time
From What Seattle Did Right, and Where New York Went Wrong, 1 May 2020 at Slate:
Sunday, May 3, 2020
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I'm not a fan of "diagrams" in economics, but sometimes... This is a screen capture of slide 36 from a SlideShare presentatio...
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It is surely true that the price level cannot rise without a corresponding increase in the quantity of money or velocity or use of credit. ...
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JW Mason : "... in retrospect it is clear that we should have been talking about big new public spending programs to boost demand....
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I've been hearing the phrase "late capitalism" for so long that I'm forced to conclude that the very concept of late cap...