The overall effect will be inflationary, not deflationary. After all, the bug is likely to spawn employment, not destroy it. But economies recover from earthquakes. Because societies channel all their resources to make sure this happens. Emergency programs rebuild bridges.
Affected commuters find alternate routes to work.
But the ride, albeit bumpy, is ultimately going to be safe. Alex Patelis is an associate economist with Goldman Sachs in New York City. Bergen Record Corp.