America was suckered punched and knocked to the ground, but not out.
The nations has survived worse things in the past.
The American people are willing, ready and able to go back to work and if the various government officials attempt to keep the lock down for much longer they are going to see some real civil disobedience.
There are some silver linings to all this.
First is Americans have been reminded that things can go from all is well and good to doom and gloom overnight.
Being prepared for unexpected events is a good habit to have.
Second the little dictators have risen up to expose themselves to the voters. Hopefully the voters will remember them in November.
Third, Hollywood is taking a big hit. Disney is losing millions of dollars a day. AMC movie chain (owned by the Chinese) is on the edge of bankruptcy. Production on movies and TV programs have been stopped. Release of new movies have been pushed back.
What we are learning is that the entertainment industry has been living paycheck to paycheck. Yes those paychecks are million dollar each but when you spend a million plus 1, you will end up in debt.
More than on big industrial giant will go out of business because they were not prepared.
The little guys while being hurt are more resilient and will soon be back where they were.
So all these small businesses getting ‘forgivable’ loans. How many of them actually needed the loan to stay open, and how many of them just see it as free money to pay their employees and rent through September?
All the restaurants out there that are closed. They let go most of their staff. They are being told when they re-open they will need to keep restrictions, such as seating people 1 or 2 tables apart assuming people even want to go out. These restaurants won’t need or want to rehire all their staff if they can only serve 1/3 of their capacity. So should they hire people back to sit around, just to get the loan? Or get no loan.
This whole thing (and I don’t just mean the loans or economy) has been very poorly thought through.