Here in Vegas, the Coronavirus is positively hammering the casinos – MGM and Wynn have already announced various closures and lay offs. It’ll probably get worse over the next two weeks. It is all temporary, but sucks for those affected – and I hope President Trump jumps in to help out the workers who are going to be hurt here. As locals, we don’t go to the Strip, of course, but we did head out to a locals casino tonight – I was curious about how it would be going. I did win $100, so that’s good. The place was thin crowd for a Saturday night – but, still quite a few people there. I asked one of the workers there how its going: no word about layoffs at the moment but the buffet isn’t getting a lot of business these days so their feeling is that it might shut down for a while.
In my particular work world – a slight slowdown from normal; maybe a 10% dropoff. Contingency plans are ready for us to work from home. Hope it doesn’t come to that – but the panic is pretty deep now, and no one wants to be the guy who kept things rolling and a bunch come down sick.
Our economy is fundamentally strong but this is going to be a hit, no doubt about it. But probably not as much as feared: the panic buying is stuffing retailer and supplier pockets with money…and in my particular line of work, I can assure you that “non-critical” retail stuff is still going on a brisk pace. We’ll come roaring back once this is over…and as we now have real incentive to decouple from China, the long term benefits to our country will be good.
President Trump, in my view, did just fine in his first statement – others thought otherwise, and that’s, I guess, why he did the second one…which went over much better. You could tell because the MSMers were taking pot-shots at trivia rather than hitting the President on substance. President Trump has really stood the test of time, hasn’t he? The guy gets it at the most fundamental level: that it is we, the regular folks, who do all the work and who need to be cared for, first. I’ve never actually been more confident of his re-election.
Ultimately, this is the price of both globalism and the welfare State – the tearing down of borders and the placing people in a position where they depend on government is what got this disease really cracking through the world. People have to use more sense – but I think a lot were waiting for government to take care of it…meanwhile the “come one, come all” attitude about travel around the world made sure that once the virus caught hold, there was zero chance it was going to stop. Strict border controls at all times: that is the way it has to be. And, yes,we should check foreign arrivals for disease…there is technology which can swiftly reveal if someone coming in should be more closely checked.
I hope you all are safe – and have all the toilet paper you need!