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Quarantine in the USA may lead to an economic recession that had no analogs in history — The Wall Street Journal

Louis Vuitton shop in New York is being boarded up for quarantine. Photo: Instagram

Quarantine, announced by the U.S. government as part of the fight against the spread of coronavirus Covid-19 in the country, provokes a real economic collapse.

This is the subject of an article by the editors of The Wall Street Journal.

According to the authors, if quarantine lasts longer than one or two weeks, millions of people will lose their jobs. Journalists believe that officials should start correcting their antivirus strategy now to avoid an economic downturn that has no parallel in American history.

However, the quarantine that is unfolding in the US has also brought some benefits.

“Warnings about the dangers of large gatherings of more than 10 people and the restriction of access to nursing homes have already saved lives. The public has received crucial education in the field of hygiene and disease prevention. With luck, this change in behavior will reduce the spread of coronavirus to such an extent that our hospitals will not be overwhelmed with patients,” the authors write.

However, the cost of this quarantine is increasing by the hour, and federal spending is not taken into account. It is noted that the “tsunami of economic destruction” will cause tens of millions of people to lose their jobs as trade and production simply stops. Many large companies can only survive a few weeks without income, but this is not the case for millions of small and medium-sized businesses.

Recall that on Sunday, March 22, New York City will be quarantined. At the moment most of the shops and places for fun are no longer open in the region.

Earlier we wrote that Trump will allocate $2 trillion as a package to stimulate the American economy against the backdrop of the coronavirus pandemic.

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