“To quantify the present reality, we have to rely on anecdotes from businesses, surveys of workers, shreds of private data, and a few state numbers. They show an economy not in a downturn or a contraction or a soft patch, not experiencing losses or selling off or correcting. They show evaporation, disappearance on what feels like a religious scale.” In short, no one alive has experienced an economic plunge this sudden. This Is Not a Recession. It’s an Ice Age.

+ “Rather than do rounds of firing followed by rounds of hiring, which will delay the recovery, let’s throw the whole economy into a deep freezer, and when the virus winds down we can thaw it out and almost everybody will still be with the company they worked for in January.” In Denmark, by taking such measures as paying workers 75% of their salaries not to show up, they are essentially freezing the economy. (Someone should have frozen the stock market a few weeks ago…)