A Failure Of Epic Proportions

  • Most Western democracies fumbled in their response to the coronavirus outbreak despite having two months to prepare.
  • A number of Asian countries have shown that it was possible to nip an outbreak in the bud and/or contain one when a serious one materialized.
  • Investors are suddenly faced with a whole new landscape to navigate.
  • A huge demand shock, an economy in self-induced coma, unheard-of public spending and monetary bazookas are some of the more immediate challenges.
  • After that, the epic failure is likely to change the post-virus world and capitalism’s institutional make-up is likely to be seriously questioned.

Source: A Failure Of Epic Proportions | Seeking Alpha