Showing posts with label testing. Show all posts
Showing posts with label testing. Show all posts

Tuesday, March 10, 2020

Anti-Science Ideology Destabilizes Economies

My friends have voiced a broad range of opinions about the coronavirus. Some think it poses a big threat, while others think the whole thing is overblown. Meanwhile, the stock market swoons, and our local university with all its magnificent facilities is switching to virtual education for the rest of the semester, and telling students to stay home after spring break.

The swoon in the stock market brings back memories of a similar swoon during the subprime mortgage crisis in 2008. Back then, the great uncertainty was in the mortgage-backed securities--those bundles of home loans. Which loans were bad and which were okay? No one could tell because they came in bundles, sort of like a bunch of passengers on a plane, or students in a classroom. If one person in the group has coronavirus, then the entire bundle becomes suspect.
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