Crisis Hotline (And Forget The Pay-Fors)

As expected, the international community is mobilizing to assist India, where COVID cases have spiraled out of control, threatening to derail not just the domestic economy, but the global recovery more generally. Reports of widespread undercounting suggest the death toll from the country's new wave may be orders of magnitude higher than official tallies. An acute oxygen shortage means people are dying who otherwise may have survived, and there are mounting concerns that the variant spreading i

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4 thoughts on “Crisis Hotline (And Forget The Pay-Fors)

  1. If India reaches 1/2 million new cases a day (and they already be there), i doubt that any amount of aid will quell the pandemic, especially if they refuse to implement even the basic health measures available to them now. Those who can isolate at home, who have the necessities of life stored away, may survive until they run out, but what then? There are certainly untold millions who need to go into the streets every day if they are to eat. And those who have the means to escape will certainly try. It is what we would do ourselves.

  2. “Speaking of untenable, growth estimates for India made prior to the current surge may soon be out of reach, even as forecasters aren’t yet ready to throw in the towel. The IMF’s latest World Economic Outlook put growth at more than 12% this year, the most among major economies (figure below).”

    Indeed. It’s completely deluded to think growth won’t be adversely impact by this, yet economists overall seem fairly sanguine about the whole situation.

  3. Check out the price action on EPI, HDB and IBN this morning. Investors clearly see no reason to worry about the Indian economy. It’s beyond logical.

    1. All three are higher again this morning!

      Why do we all even bother discussing “herd immunity” or economic fundamentals?

      But … speaking of herd immunity, there is a worrisome rise in the numbers of people not showing up for their second Pfizer or Moderna shots. Does this call into question the herd immunity this quarter narrative from the two Morgans?

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