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The Basement
COVID related bankruptcies in the production space
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<blockquote data-quote="Tim McCulloch" data-source="post: 214562" data-attributes="member: 67"><p>Sweden's experiment with "herd immunity" turned out not so well, it appears, while accomplishing the real goal of not shutting down a big portion of the leisure economy. From a perspective of "ruthless economics," I understand that the old, feeble and infirm are seen as a consumer of net resources, not direct and immediate contributors to resources. Having a pandemic conveniently remove that population frees up more capital for productive use.</p><p></p><p>Seems rather crass, eh? But there is no shortage of economists who espouse these ideas. They get some help from politicians, too. I recall that around 30 or more years ago, a state governor was quoted as saying, in effect, that older people had an obligation to die and get out of the way of younger persons. I can't place the state or his name but I recall the little scandal that erupted after it hit the news.</p></blockquote><p></p>
[QUOTE="Tim McCulloch, post: 214562, member: 67"] Sweden's experiment with "herd immunity" turned out not so well, it appears, while accomplishing the real goal of not shutting down a big portion of the leisure economy. From a perspective of "ruthless economics," I understand that the old, feeble and infirm are seen as a consumer of net resources, not direct and immediate contributors to resources. Having a pandemic conveniently remove that population frees up more capital for productive use. Seems rather crass, eh? But there is no shortage of economists who espouse these ideas. They get some help from politicians, too. I recall that around 30 or more years ago, a state governor was quoted as saying, in effect, that older people had an obligation to die and get out of the way of younger persons. I can't place the state or his name but I recall the little scandal that erupted after it hit the news. [/QUOTE]
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