Read on Twitter
Robert Reich is dead on! 
What I would add to this is that we're going to see commercial real estate implode, and with it a lot of peripheral credit markets.
One knock on impact of all this is ... you guessed it ... even more unemployment.
[thread]: 1/
#BeTheChange4USA
https://twitter.com/RBReich/status/1277641135368724483
What I would add to this is that we're going to see commercial real estate implode, and with it a lot of peripheral credit markets.
One knock on impact of all this is ... you guessed it ... even more unemployment.
[thread]: 1/#BeTheChange4USA
https://twitter.com/RBReich/status/1277641135368724483
Another knock on impact will be a greater leg down in the economy for a multitude of reasons.
One of which is that the idea that restaurants or other entertainment venues could ever survive with 1/3 to 1/2 capacity was also farcical at best. Margins are far too low for that.
2/
One of which is that the idea that restaurants or other entertainment venues could ever survive with 1/3 to 1/2 capacity was also farcical at best. Margins are far too low for that.
2/
Personal finances are tight: When surveyed, about 40% of American families are worried about how they will pay for food in July.
Which speaks to a deeper, darker and more dangerous problem afoot: most families don't even have a $1000 emergency fund.
3/
Which speaks to a deeper, darker and more dangerous problem afoot: most families don't even have a $1000 emergency fund.
3/
We're about to experience exactly what that looks like firsthand.
This as our farm output drops due to a lack of workers, crop harvesting and because climate change is destroying a lot of land.
4/
This as our farm output drops due to a lack of workers, crop harvesting and because climate change is destroying a lot of land.
4/
For the first time since the Dust Bowl, it is likely that we see food security be a big problem due to the dualing narratives of a new, Greater Depression and the combination of coronavirus and climate change's impact on farm output.
5/
5/
What we've seen thus far in terms of impacts is really just a preview for what's to come.
This is the first inning we're closing out of a very long game -- one where the US may not survive as we know it given the choices made thus far by our so-called leadership.
6/
This is the first inning we're closing out of a very long game -- one where the US may not survive as we know it given the choices made thus far by our so-called leadership.
6/
This adds urgency to the need for communities to come together and support each other. Now more than ever before, cooperation among neighbors, families and friends is what may bridge the gap.
The crisis to come will challenge us all, but it can also bring about a better day.
7/
The crisis to come will challenge us all, but it can also bring about a better day.
7/
If we can learn from our country's past mistakes and truly embrace compassion, generosity and teamwork, perhaps we can find a path forward that allows us to avoid the worst outcomes possible.
The time is now to prepare ourselves as the worst is yet to come.
Be prepared.
8/8
The time is now to prepare ourselves as the worst is yet to come.
Be prepared.
8/8
