On Wednesday, July 22 2020, one of the largest public works projects of all time was agreed to.

But this wasn't a major roadway or rail road. This was an agreement to produce a Vaccine, really a novel gene therapy, in response to the Covid-19 Pandemic, then about to sweep the nation.

Signed by then President Trump, and Pfizer CEO Albert Bourla, the agreement called for Pfizer to provide an initial 100 million doses of their treatment at a staggering $1.95 Billion dollars.

Its called a balance of trade for a reason. In in an ideal world, with a properly functioning economy, all things should be in balance. The economy itself should be balanced. With production and consumption roughly equal.

And so to, trade with other countries should be balanced. This country trading it's goods and materials with the rest of the world, in relative balance.

Its called a balance of trade for a reason. In in an ideal world, with a properly functioning economy, all things should be in balance. The economy itself should be balanced. With production and consumption roughly equal.

And so to, trade with other countries should be balanced. This country trading it's goods and materials with the rest of the world, in relative balance.

Its called a balance of trade for a reason. In in an ideal world, with a properly functioning economy, all things should be in balance. The economy itself should be balanced. With production and consumption roughly equal.

And so to, trade with other countries should be balanced. This country trading it's goods and materials with the rest of the world, in relative balance.

Its called a balance of trade for a reason. In in an ideal world, with a properly functioning economy, all things should be in balance. The economy itself should be balanced. With production and consumption roughly equal.

And so to, trade with other countries should be balanced. This country trading it's goods and materials with the rest of the world, in relative balance.

In the heart of Gloucester Massachusetts, stands one of the nation's first monuments to the supply chain. A monument to the brave folks who battled the North Atlantic to bring home the much needed sea food for the people of the North Shore.

In the heart of Gloucester Massachusetts, stands one of the nation's first monuments to the supply chain. A monument to the brave folks who battled the North Atlantic to bring home the much needed sea food for the people of the North Shore.

In the heart of Gloucester Massachusetts, stands one of the nation's first monuments to the supply chain. A monument to the brave folks who battled the North Atlantic to bring home the much needed sea food for the people of the North Shore.

In the heart of Gloucester Massachusetts, stands one of the nation's first monuments to the supply chain. A monument to the brave folks who battled the North Atlantic to bring home the much needed sea food for the people of the North Shore.

There is the same sort of formula, predictable, ever-present in nearly every major economic catastrophe. We saw it back in the 1970's, when a major external oil shock sent the economy into a tail spin.