, Columnist
The Coronavirus Rally Is Not a Cure
Hoped-for stimulus can’t erase the economic pain.
Wall Street, the scene of momentary relief.
Photographer: JOHANNES EISELE/AFP/Getty Images
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At the height of the financial crisis, some smart journalists compared the system’s pained spasms to an illness in which the patient convulsed, settled down for a bit, then was wracked again. If the coronavirus crisis follows the same pattern, then we are in the “temporary relief” phase.