Hoover Institution fellow Ed Lazear joins Congressman Dan Crenshaw to discuss how the current economic downturn is different from the 2008 recession as well as what should be the overarching aim of our economic policy moving forward. Lazear gives his insight concerning how Congress can target the individuals and businesses that need assistance the most – both in the short-term and the long-term.
A trillion bucks is a lot of money. The costs of shutting down the economy are larger. California's GDP is essentially zero at the moment. US GDP was about $22 trillion per year before the virus hit, almost $2 trillion per month.
Two years ago, the stock market was on a one-way trajectory: Up. In 2018, we watched how bioengineering advances and a technology called CRISPR held the promise of personalized medicine and cures. People lived longer, healthier lives.
The central problem now is how the Federal government can lend money to businesses that need it -- without a budget blowout. I proposed letting people borrow from the IRS which has a pretty good mechanism for getting repaid.
I’ve often thought that all of us parents are home-schoolers—at least after 3:00 p.m. and on the weekends. But with the coronavirus shuttering schools in many parts of the country—including where I live with my family in the Maryland suburbs of Washington, D.C.—it’s become a no-joke full-time gig.
Raghuram Rajan, Professor of Finance at the University of Chicago, warns of defaults in the credit sector. To dampen the repercussions of the coronavirus pandemic, he argues for targeted economic measures, and he explains why he views Switzerland as a role model for the revitalization of growth in the industrial world.
The national movement against annual state tests in schools never got further than a 20 percent opt-out rate, and that was just in New York state. I bet an invisible spiky virus will wipe out most, if not all, of those tests this year without issuing a single news release.
The novel coronavirus pandemic has nearly emptied Harvard’s campus, sending students and faculty home for the remainder of the semester. It has also plunged the world into what Rutgers Business School professor John Longo called “the most serious financial crisis since the Great Recession and perhaps the Great Depression.”
Three months ago, the novel coronavirus first appeared in Wuhan, China. Now, it is considered a global pandemic. As of March 18th, the virus has infected over 169,000 individuals, resulting in 8,732 deaths—and counting.
US and European economists were predicting a recession as a result of the global coronavirus pandemic which has so far infected over 211,300 people across the world and killed 8,847 others since it first emerged in China last December.
"Why the lockdown of societies now and not in any previous virus of our lifetime?" radio host Dennis Prager asked Hoover Institution senior fellow Victor Davis Hanson on Wednesday. "The official explanation is that the data proves to us that coronavirus is much more easily transmissible and much more toxic than, say, H1N1," he answered. "All I'm suggesting is that there's a lot of data that does not yet substantiate that theory."
Precedent doesn't provide much guidance. There's a deadly coronavirus threatening to circulate through the population. The resulting government orders and social sanctions of self-distancing and self-isolating behavior are unprecedented in living memory.
Aggressive moves by the federal government announced Tuesday aim to keep businesses and their workers afloat as coronavirus fallout crushes cash flows, though none of the measures guarantee that workers can keep their jobs. Companies struggling to maintain pre-COVID-19 staffing levels are already turning to layoffs.
Personal finance courses – including a new class in the Economics Department – and advice from experts are among the ways Stanford students can improve their financial literacy and wellness whether studying on campus or remotely.
mentioning Kiron K. Skinnervia Carnegie Mellon University Institute for Politics and Strategy
Friday, March 20, 2020
Two nights before Aisha Al-Ali was to leave Qatar for Washington, DC, the US killed Qassem Soleimani, the head of Iran’s Islamic Revolutionary Guard Corps’ elite Quds Force, in a drone strike in Baghdad. The Iranians swore revenge, and tensions that had simmered for decades threatened to boil over.