The only reason I am optomistic this might turn around faster than we think, as I drive around, it seems all the industrial businesses are still going. It seems the biggest impact is to retail, so there is still a large segment of our workforce getting paid.
‘It seems the biggest impact is to retail, so there is still a large segment of our workforce getting paid.’
residential housing construction, a major indicator of national health, has taken a big hit...
There will be a larger divide in America of winners and losers as this continues.
The industrial company I work for is going strong. Stock price is down. I bought some more yesterday
There are also people like me who still have income and stable jobs but are spending significantly less to ensure they can survive just in case.
If I hold at my current savings rate and we start reopening in May, I am getting a new large appliance and possibly some furniture, not to mention a haircut and paying for exercise classes once the economy opens again.
We will be right at the cold weather/hot weather wardrobe split so a few pieces of clothing might happen too.
I think there will be enough of a demand for certain items and services to get the wheel started.
If there are some moves like reinvesting in drug production in the U.S. that also occur, we will weather this.
I think there will be some industries affected a year from now and it may kill off some already struggling companies, but many segments will be back to where they were.