The Flinchum File
Thoughtful Economic Analysis and Existential Opinions

Kudos 4 Jim ?

03/10/2020

It was 12 months ago that I predicted a recession this year.  Brownie points for me!  But, I expected it might be caused by a financial crisis, instead of a biological crisis.  No brownie points for me!  If I had thought about the problem of Russia’s struggle to dominate OPEC, this current oil crisis would have been more predictable.  Negative brownie points for me.

Okay, now that I’ve bragged enough, what do we do now?

The Democrats have come up with a laundry list of good ideas; some of which actually make sense.  On the other hand, the Republican approach reminds me of the old joke that Republicans would vote for “a bucket of warm spit, if it was labeled as a ‘tax cut.'”  The idea of a simple payroll tax cut is fine . . . as a very, very simple starting point.

In Infantry Officer Candidate School, the one principle that I remember was this:  “When you and your men come under fire, the most important thing is to give an order NOW.  It doesn’t matter if you order them to hit the dirt, drop their pants, or climb a tree.  Just give them an order  NOW!”

With the logarithmic growth of the coronavirus, there is no time for the thoughtful perfect action.  Forget perfect.  Focus on NOW!!

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