4.9 • 3.3K Ratings
🗓️ 23 July 2020
⏱️ 21 minutes
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0:00.0 | I want to talk about the economics and if you remember more than four months ago, we had |
0:06.1 | economic economists Toby Rogers joined us to try and predict what might be happening |
0:12.6 | in America should the lockdown continue. |
0:15.8 | This is what he had to say all the way back then. |
0:18.8 | When unemployment increases, lots of people die. |
0:22.5 | We have very good data on this. |
0:24.7 | Five years after unemployment goes up by 1%, 36,000 people are dead as a result of unemployment. |
0:33.3 | About half of those deaths are from heart attacks, but you also see other deaths of despair. |
0:42.2 | So increases in alcoholism increases in suicide and you see more people end up in mental |
0:47.8 | hospitals. |
0:48.8 | Last year they found that 39% of Americans would have trouble covering an unexpected expense |
0:58.5 | of $400. |
1:00.5 | That's because they live paycheck to paycheck. |
1:02.6 | They don't have more than $400 in reserve. |
1:06.0 | 51% of small businesses in America will fail if the economy is locked down for 90 days. |
1:13.0 | What we're seeing in unemployment claims around the country are 10 to 12 fold increases |
1:20.2 | in unemployment claims already. |
1:24.7 | That's great depression levels of unemployment. |
1:28.4 | What does this nation look like after 18 months of some form of lockdown while we wait |
1:35.8 | for this mythical product? |
1:38.6 | We're in uncharted territory here. |
1:40.9 | There's no model for this. |
... |
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