berg80
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- Oct 28, 2017
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"The data also suggests that economic relief measures have done little for small businesses: Stimulus spending tended to go to Amazon or Walmart, not small local stores, and small businesses eligible for Paycheck Protection Program (PPP) loans are generally not any better off than ones that were not eligible.
And researchers who developed the data found official orders “reopening” states do not increase economic activity, and so appear to endanger public health without any economic benefit.
The picture that emerges in a new working paper based on the economists’ findings is of an economy frozen in place. Simply declaring the economy “reopened” does not seem to do anything to spur high-income people to spend more, and it’s not clear that anything can until the real threat passes."
Optimism surrounding re-opening certainly helped the stock market rebound. Just not the real economy underlying it.
And researchers who developed the data found official orders “reopening” states do not increase economic activity, and so appear to endanger public health without any economic benefit.
The picture that emerges in a new working paper based on the economists’ findings is of an economy frozen in place. Simply declaring the economy “reopened” does not seem to do anything to spur high-income people to spend more, and it’s not clear that anything can until the real threat passes."
A new paper finds stimulus checks, small business aid, and "reopening" can’t rescue the economy
Real-time data on how the economy responded to Covid-19 suggests the problem is the disease itself.
www.vox.com
Optimism surrounding re-opening certainly helped the stock market rebound. Just not the real economy underlying it.