“when there is a risk that new diseases such as coronavirus will trigger a panic and a desire for market segregation that go beyond what is medically rational to the point of doing real and unnecessary economic damage, then at that moment humanity needs some government somewhere that is willing at least to make the case powerfully for freedom of exchange, some country ready to take off its Clark Kent spectacles and leap into the phone booth and emerge with its cloak flowing as the supercharged champion, of the right of the populations of the earth to buy and sell freely among each other.”
“We just watched. A pandemic was always at the top of our national risk register — always — but when it came we just slowly watched. We could have been Germany but instead we were doomed by our incompetence, our hubris and our austerity.”
SOURCE: mainly macro – Read entire story here.