Is it the Coronavirus which causes economic devastation?

Is it the virus itself which causes the economic devastation, or is it the "cure", especially the kind of cure disproportionately ordered by proponents of massive government imposed "lockdowns", payed for with "other people's money"?

Is the "leadership" in places like New York motivated to choose policy which actually creates a more desperate situation, in order to compel the Federal government to give them more "cure", in a kind of: Munchausen Syndrome By Proxy?