I will save you my planned rant on corporate socialism, de-risking investments, incentives not aligned with productivity goals, structural abandonment of business fundamentals and the decoupling of share prices from underlying operational profitability.
Instead, I’ll just say, the economy is an output and should not be treated like an input. Consumers create demand and that demand is predicated on Maslow’s hierarchy that prioritizes human needs as:
If people are at risk of getting sick, physiological needs are not being met. Security is limited due to economic issues.
Connection may be superficially good due to social distancing keeping families together, but they not reaping the typical benefits due to the inherent physiological and safety risks.
Particular kudos go to Hilton CEO Chris Nassetta who clearly expressed the interests of the hotel industry at a white house briefing, seated next to the President:
“…our customers are saying they’re looking for the government, both state and federal government, to focus on testing so that they understand, you know, what real mortality rates are…”, continuing that guests “…want to know that people are being responsible. Right? They want to know that we are doing the testing, the social distancing…”
Guests will only return once they feel safe. That perception of safety must be fact-based and those facts are the only derived from widespread testing and contact tracing.
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