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I doubt we are even near 500%, but I'll go ahead and say I think it's possible in the short term for California to be lose 500% of it's GDP. It's possible to bo
by gpm 7y ago
I doubt we are even near 500%, but I'll go ahead and say I think it's possible in the short term for California to be lose 500% of it's GDP. It's possible to borrow against our future, both literally with money, and figuratively by decreasing future productivity.
For instance, we're (probably) negatively impacting kids education, that's going to have a negative impact on the economy for the next 50+ years. If we fuck up the food supply chains too badly (e.g. migrant works, locusts in africa [1], etc) more kids will suffer from malnutrition, which has a long term effect. Increased poverty rates from the shutdown will likely increase crime rates (and have many other ill effects), which will have a long term effect. Putting the economy into a recession will no doubt significantly slow down all sorts of R&D work delaying useful (and even life saving) inventions. And so and and so forth.
https://arstechnica.com/science/2020/04/africas-huge-locust-swarms-are-growing-at-the-worst-time/ https://arstechnica.com/science/2020/04/africas-huge-locust-...
- mirimir 7y agoThat's a sobering argument. But I wonder how it compares to other major disruptions, such as major wars. Or even the 2008 recession.