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John Cochrane discusses the fertile middle ground between a complete shutdown of the American economy and a premature return to business as normal.
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With all the effort to backstop the banks. Why don’t we apply pressure to landlords to just not charge rent while we’re closed and in turn if the space is mortgaged have the banks not require payment for a few months (and also no accrued interest while there are no payments) – or maybe not completely eliminate payments but drastically reduce them to cover some expenses that cannot go away. This seems like it would help for the economy to just pause. It doesn’t seem like it does any good to evict normally good tenants and foreclose on normally paying mortgage holders.
I also don’t think I have heard anyone saying anything about interest payments on properties. I think I’ve heard some calls for cutting or eliminating rent.