“This is going to make the Great Depression look small.....”
The economy will rebound when this virus runs its course. It’s setting up a bad recession but it’s not going to last beyond the pandemic itself. This won’t be another Great Depression.
Do you have any idea how many businesses are going to fold from no revenue for a month or two? How many individuals are going to default on what bills, and be so far behind when they start getting a paycheck again? And do you understand how tight fisted people are going to be after that experience? It’s not going to rebound as fast as you think
“The economy will rebound when this virus runs its course. It’s setting up a bad recession but it’s not going to last beyond the pandemic itself. This won’t be another Great Depression.”
LOL
You really think that?
We are at about 15-20 percent unemployment TODAY. Right now. The auto manufacturers just completely shutdown.
We will have a significant GDP contraction and unemployment will peak around 30% this year if we are lucky.
The only way out is through.
You are right, America is coming to her senses and realizing the cure is worse than the disease.
The service and restaurant industry is gone.
The “gig” economy is gone.
The Auto makers gone.
A lot of the retail economy is gone, and the shortages are going to be pretty bad.
We shall see what will happen, but today I have a job, but my neighbor just lost his (owned a small restaurant).
And we haven’t even hit the bad time yet.
How do you know? Some say the Great Depression was caused by a 10 per cent drop in economic activity. What percentage drop are we experiencing now? I’d welcome some encouraging facts.
It may not last very long, but it may be enough to kick Trump out of office.