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Sunday, June 14, 2020

Coronanomics

"You know like the Swedes who are having soaring death rates and whose economy is worse than its European neighbors." - Uncle Ken

Although Sweden recently experienced a big spike in their corona numbers, they are still well below Michigan, which has approximately the same population, around 20 million.
source:  https://www.msn.com/en-us/news/coronavirus?rt=0&ocid=MSNewsApp&referrerID=InAppShare

As for the assertion that Sweden's economy is "worse than its European neighbors", could you be a little more specific?  Are we talking GDP, per capita income, or what?  Do you mean all other EU countries or just Sweden's immediate Scandinavian neighbors?  If, by whatever measure, Sweden's economy is indeed worse than somebody else's, did it just get that way or was it that way before the corona hit the fan?

I read in the paper the other day that Michigan's income and sales tax revenues are way down as a result of the lockdown, and our governor is crying for Washington to come bail us out.  I'm not sure how much more fiat money the Fed can produce without inducing hyper inflation.  I was surprised that didn't happen during the last big recession when it was measured in mere billions instead of trillions

Cheboygan County is still reporting 21 cases and one death.  Last I heard we had 17 recoveries, but that was at least a week ago, so I wouldn't be surprised if there are no active cases in the county by now.  I think that all of our businesses have been allowed to reopen with restrictions. Some of our restaurants have elected to stay with "take out only" for now, I suppose because they think the restrictions are more trouble than they are worth.  All of the festivals and summer events in the region have been cancelled, so it's still going to be a lean year for the tourist trade.   The Empty Shelf Syndrome in our stores seems to have subsided to about what it was before corona.






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