The Flinchum File
Thoughtful Economic Analysis and Existential Opinions

Post-Quarantine

04/11/2020

In 1990, former President Richard Nixon wrote “Six Crisis” – a history of each crisis that he faced during his presidency.  Since he was the first President I ever voted for, I eagerly read the book shortly after publication.  While I remember little of the six individual crisis, I never forgot the primary lesson he learned.

The most dangerous time during a crisis is immediately after the crisis.  During a crisis, you are very focused and unlikely to make a bad decision.  Once the crisis is over, your focus becomes more relaxed, and you are more likely to make a bad decision.

Listening to President Trump acknowledge that the decision to restart the economy will be “the biggest decision” of his life, I wondered what advice the former President would give?

I suspect Nixon would say we can trust Trump’s decision on when to restart but not to trust his implementation.

Do you . . . ?

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