President Trump GREW this economy to the strongest it's ever been before this happened. He continues to say we're going to bounce back faster than what anyone thinks.
It's not like we were in the great depression before. We had full record employment and jobs were coming back to the US. When this is over even MORE jobs will be coming back. Heck they already are. We're now making medical supplies here that were made overseas before. It might be a different economy but it's going to be strong economy.
Scott Adams said the other day....what would be the effect of everyone but essential workers taking a 2 month vacation at the same time?
I think our country can survive that scenario cause that's essentially what it is.
The annual GDP of the U.S. is $20 Trillion. That helps put the $2 Trillion bail-out and $4 Trillion from the Fed in context. And don’t forget that we don’t have any of this money either - it will all be borrowed and we were over our heads in debt already. I don’t fault the president for being optimistic. That’s what a good leader does, but there is no way the economy will be back to normal in a few months. People not paying their rent means landlords can’t pay their mortgages, then the banks take a hit. Banks will fail. Artists have no gigs until the fall, can’t buy food or pay for housing. Many of these businesses will never reopen. The St. Louis Fed estimates 30% unemployment. Are you reading about the crime in our big cities? I can send you articles/data if you want. Very serious situation. No point in terrifying the public, we need for them to be calm, but this is going to be tough and I think most folks have no idea....