Outlined Rules by Gov. Newson Mean Long-term Economic Pain

Today the states of California, Oregon, and Washington outlined the steps necessary for a reopening. In summary, until there is vaccine, there will NOT be even close to a full recovery in these states.

Some of the highlights:

• Testing needs to be comprehensive.
  
  We aren’t even close on this point. Testing right now is, to be honest, pathetic. Here are the data.

On average 3 states with 50 million people are doing 10,000 tests per day. This needs to be more like 40-50k per day.

• Likely no mass social events until there is a vaccine
  
• Businesses and schools will need to figure out a way to do social distancing.
  
• This means, for example, “you may see servers wearing face masks, menus may be disposable, you may have your temperature taken before entering and there may be half as many tables as before.”
  
• I don’t even know how schools can do this. Classroom space is fixed. If they are usually full now, you only have 1/2 capacity at best.

The bottom line is we will have a very long and slow recovery for the rest of the year.