Dear Coronavirus Alarmist:

Here’s a little reminder from history.

The Great Depression caused a decade of high unemployment, poverty, low profits, deflation, plunging farm incomes & lost opportunities for economic growth as well as for personal advancement.

The Depression was blamed on high consumer debt, ill-regulated markets that permitted overoptimistic loans by banks and investors and the lack of high-growth new industries. Industries that suffered the most included construction, shipping, mining, logging and agriculture

Also hard hit hard was the manufacturing of durable goods like automobiles and appliances, whose purchase could be postponed. The unemployment rate skyrocketed.

The Depression caused major political changes too. President Herbert Hoover, widely shamed for not doing enough to combat the crisis, lost the election of 1932 to FDR. He passed the New Deal, which effectively implemented socialism. FDR became the first & only American dictator.

If this history lesson doesn’t sound familiar to you or seem applicable to what we are facing today, you are in complete denial of reality. Choices have consequences and we are about to face them soon.