By Tank Murdoch @TheNatSent
(TNS) We would hate to speculate that the president of one of the country’s Federal Reserve banks could be a crackhead, but after what he said on Sunday, we have to wonder what he’s ingesting or smoking.
In an interview Sunday with CBS’ “Face the Nation,” Minnesota Fed prez Neel Kashkari said the U.S. economy is facing a “long, hard road” as it attempts to rebound from the coronavirus pandemic, warning Americans to brace themselves for 18 months of shutdowns.
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He claimed that predictions of a quick turnaround were overly optimistic — unless a vaccine for the virus is found within a couple of months.
“It would be wonderful if some new therapy were developed in the next couple months,” he said. “Then potentially we would have a V-shaped recovery,” which is a term that describes a steep market decline followed by a quick resurgence, the Daily Mail noted.
“[That] barring some health-care miracle, it seems weâ€™re going to have various phases of rolling flare-ups,” he continued.
The Daily Mail added:
Looking ahead, Kashkari says he isn’t expecting the U.S. economy to bounce back quickly.
“This could be a long, hard road that we have ahead of us until we get to either an effective therapy or a vaccine,’ he added. ‘It’s hard for me to see a V-shaped recovery under that scenario.”
So, what makes us think this guy is on something? He’d have to be — or he’s completely out of touch with reality — to believe that the country won’t implode long before 18 months if a sizeable portion of remains shut down.
We’re already due to experience shortages of food, and we’ve been experiencing shortages of other products as well. The problem with prolonged shutdowns is that they begin to affect the production of goods; if goods production is interrupted for too long, then goods begin to disappear from store shelves.
Then the violence willÂ really get out of hand.
The president is up against it here. He has a responsibility to keep the country as safe as possible, but heÂ knows that poverty stemming from a shuttered economy kills also — and will only create situations where violence will erupt and then spread.
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No, there’s is simplyÂ no way to keep our country shut down for a year-and-a-half over a virus that has come nowhere close to an average flu season. At a point very soon in our future, Americans desperate for an economy will demand that the president do something to open up the country.
Our national survival will depend on it.
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