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Chief economist's commentary

Don Hanna

Global

23 Nov 2020

Key Thoughts, G4: Fiddlers and Fires

The apocryphal story of Roman emperor Niro fiddling while Rome is playing out nearly 2000 years later in the US, with golf clubs rather than a lyre, a raging pandemic rather than a fire and a lame-duck, wannabe autocrat president rather than an emperor. With the US COVID case load growing 78% in the last two weeks, and deaths rising 56%, Mr. Trump has focused his attention on quixotic and demeaning efforts to undermine the November election outcome rather than pushing Congress to enact fiscal support that would avoid the termination of a number of the transfer and loan programs that have supplemented cash flows to affected firms and households.

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