If the objective is to flatten the curve and do it quickly, which goes without saying, then Ackman is probably not wrong.
We’re economically at more or less a standstill anyway, and what’s compounding it is the uncertainty of duration and magnitude. A 30-day proactive sacrifice backed by the printing press, which is already printing as it should be and probably not enough, could in the longer run save the economy from worse.
It isn’t only a question of numbers and amounts, it’s also the popular attitude. A quicker and decisive action, even if short-term painful and imperfect, would do a lot to lift the social, cultural, and psychological clouds, which could turn into lingering bad weather if it continues long, after the disturbances have passed.
The markets, which are (and impact) everyone, directly and indirectly, need a proven blueprint that is fast in order to rest easier, and eventually forget… if, at some point, later on, this should occur again.
The battle isn’t only biological and economic, but emotional, which relates. It could become the difference between a Black Swan and an overhang. The former can be hedged at many levels, or supported with a bridge, the latter is a deeper and more complex thing that keeps on spreading.