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By Jeremy J Siegel, Senior Investment Strategy Advisor
On September 28, 1918, the City of Philadelphia, despite warnings of oncoming Spanish Flu, held a "Liberty loan" parade to encourage citizens to buy war bonds to fund U.S. efforts in the First World War. Unfortunately, thousands of Philadelphians died as the virus swept through the crowds of citizens that were urged to buy bonds in support of our troops.
Today we are fighting a "War on COVID-19," a war that will cost trillions of dollars, many times the cost of our participation in the Great War.