Read on Twitter
Not enough attention to this — however large you think the pandemic disruption to the supply side of the economy is, the demand shock is *bigger than that* https://www.reuters.com/article/us-usa-economy-economy/us-consumer-prices-post-largest-drop-in-five-years-idUSKCN21S1B7
Obviously even if you fully fixed the demand side there would still be significant economic problems. But the demand side fix would be *more than half* the battle and it can’t just wait for miracle cure.
What’s more the scope of the current economic carnage is undermining support for tough public health measures, so this time around inadequate demand policy is risking getting a lot of people killed.
