The very worst, the Black Death in the mid-1300's, killed 75-200 million people over a few years - when the world only held about 475 million. Imagine if the U.S. lost a similar percentage, roughly 100 million people, today to Covid-19.
During pandemics of the past, governments did not force financial disaster on citizens. They would probably have starved to death if they had to abandon their work. But this time retail shops, restaurants & bars, laundromats, janitors, gyms, hair stylists, etc. were forced to give up their living.
Catastrophe has claimed some of them. Of course it did. How many weeks could they hang on with no income? By mid-May there were already 100,000 business failures in the U.S.
"Tearful, heartfelt announcements about small-business closures are popping up on websites and Facebook pages around the country. Analysts warn this is only the beginning of the worst wave of small-business bankruptcies and closures since the Great Depression."
(cont'd tomorrow)
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