Tuesday, June 30, 2009

Novel H1N1 Kills the Economy

I don't know how things are where you live, but in my neck of the woods, the economic crisis has not been kind. The neighbors across the street are moving out today -- another foreclosure. The local news is filled with reports of more lay-offs, including scores of government and school district employees.

Economically -- bad timing for a global flu pandemic.

On a basic local level, we have already spent tens of thousands of dollars on supplies, transportation of specimens, and employee overtime. But researchers at Oxford Economics estimate dire consequences for the global economy. That's right. Dire. Not that I am over-reacting... What does that look like? Increased unemployment, decreased consumer spending, possible deflation, long-term consequences -- ultimately increasing the length of the recession (depression?).

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