'Welcome to the house of horror': The awful economic data for April is here

CNN ^ | 23 April 2020 | Julia Horowitz

[CurlyDave]

Obviously, it would be great if it happens that way. I think it has already unraveled far too much to come back quickly - will take years.

I disagree. We have lost about 6 -8 weeks of production in maybe 30% of the economy. Everyone else is either essential or can work from home. So for the purpose of estimating, lets say 10 weeks lost, which is 20% of a year.

So the total loss is 20% x 30%, which is only 6% of 2020. I agree this is bad, but it is not devastating.

AND, it doesn't come anywhere near great depression levels.

Next look up the phrase "Creative Destruction" as it applies to capitalism. Weak companies are going to be killed off and stronger ones will replace them. In a couple of years this will be a minor bump in the road.