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FRONT page/headline article of the online USA Today - right now:
COVID-19 pandemic could dampen economy for up to 70 years
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Yikes! This article is based upon a "study/Paper" by a Cambridge MA org. I'm certainly OK with reporting information, studies, research on various topics. MY concern is when it is "reported" as headline and main article. Reminds me of waiting in line at a supermarket and seeing the 'rags' with headlines "Alien Impregnated Hollywood starlet!", "Elvis found in Omaha!", "Hitler relative running for Senate!".
Many folks look at a headline, and...it's a FACT.
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first part of article - complete, in link below.
The nation is awaiting a vaccine that can halt the COVID-19 pandemic in its tracks, allowing life – and the battered U.S. economy – to return to normal.
But a new study suggests the crisis has generated fears that are likely to dampen risk-taking and economic output for decades by increasing the “perceived probability of an extreme, negative shock in the future.” Over time, the economic cost of that warier outlook is “many times larger” than the short-term damage, the study says.
The study, titled, “Scarring Body and Mind: The long-term belief-scarring effects of COVID-19,” attempts to quantify such long-term economic losses by assessing the toll taken by other economic upheavals, such as the Great Recession of 2007-09.
“While the virus will eventually pass, vaccines will be developed, and workers will return to work, an event of this magnitude could leave lasting effects on the nature of economic activity,” says the paper, which was released at the Federal Reserve Bank of Kansas City’s annual conference last week. “Businesses will make future decisions with the risk of another pandemic in mind.
COVID-19 pandemic creates fears that may constrain economic growth
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