The question is whether it is necessary to adopt the Chinese formula and shut the whole country down,"
The last ten days have had the virtue of inserting us into a worldwide reality show aimed at paralyzing our brains with fear and turning the world at large into a immense farm of automatons.
We thus aimlessly run to the supermarket to grab everything in sight.
We have cleaned each closet about ten times.
We have cooked a pool of jams, soups and sauces.
We have ironed and starched grandma's table cloths and bed spreads for the first time in ten years.
And we have cleaned our computer systems of digital garbage.
A price tag for this laborious dedication to domestic chores and digital cleanliness just for the U.S. would be close to $317 billion. Indeed, the Bureau of Economic Analysis has found that if the value of household production were included in gross domestic product (GDP), it would add approximately $3.8 trillion to the U.S. economy.
In contrast the country shutdown will most probably munch up about 10% of our GDP, which means we will lose about $ 1.9 trillion.
To be sure, should we add the losses attributable to paralysis in the most vulnerable activities such as transportation services, restaurants, lodging and entertainment services, the tab reaches $175 billion per month or $2.1 trillion a year or 14% of consumer spending. And the ancillary cost in reduced payrolls represents $574 billion.Add a comment Leer más...