Yet there are still idiots in here assuring people that this will be a V shaped recovery. It will take many years for unemployment to approach <5%.
There are other numbers.
For instance GDP GDP can rebound at a rate greater than unemployment rate.
I initially thought opening up would cause a nice surge and perhaps jump start us back to high economic activity levels. However, we’ve seen States dragging their feet and placing absurd restrictions on opening up such that a jump start will not be possible.
I fully expect a total collapse by mid July. I just got some extremely bad news about the airlines industry today. Expect massive layoffs across the airline industry and their respective suppliers. The airlines are already at 96% down. Yes, that means they are booking only 4% of passenger travel a this time. They are now finding the federal and private equity bailouts will not sustain them and need to basically close shop.