Groundhog day It's variant day Again
Omicron sunk the markets by at least 2.5 % Friday. US crude prices dopped 13%.
The cure to Quidflation found!
Travel restrictions are being imposed. But that did not stop the transmission of any of the variants so far. It is in Belgium so it has already crossed over from South Africa. Herr Doctor Fauci says it is most likely in the US already. Lockdowns are coming. The temporary placeholder to Guv of NY has banned elective surgeries.
All this BEFORE we know how big an issue Omicron is. It is not a given that it will be more than a regional California’s Epsilon, Brazil’s Gamma and South Africa’s Beta did not take off around the world as some scientists initially feared.
It is a great scenario for despotic leaders. If it doesn't become a big deal, it will be automatically credited to their swift response. If it is bad then they can claim it would've been worse without their intervention. And that not letting a crisis go to waste?
Look for a greater push for mail in balloting as the mid-term elections approach.
Think of the possibilities. The third jab is already underway. the Vax manufactures are promising a 4th jab tweaked for the new strain. The argument for fast-track approvals of anti-viral covid pills just got a booster shot too.
The bottom line is that with covid there will always be new strains. My guess if we follow the science is that it will be more transmissible and less lethal. Darwin says a life form doesn't serve its best interests by killing its host. So, it adapts.
America and the world has to learn to live with it.