It's valid to ask whether it's the pandemic or lockdowns that account for the bulk of the economic damage. That answer requires comparison. Here's retail in 7 states that stayed open vs. the 7 heaviest lockdowns. The 1st group rebounded to normal, ergo the it was the lockdowns. https://t.co/wG4msfYdVy pic.twitter.com/g3VRLqzmv1
— Phil Magness (@PhilWMagness) March 6, 2021
