That’s right. Already 1/3 already severely impacted.
When the $1,200 tax refund is spent this month and the $2,400 per month unemployment runs out in mid August, all bets are off. The feds will probably fund another round of some sort, but that is nothing but massive inflation for next year.
All those bored people thinking this virus is exciting and good drama to keep them entertained will find out next year they are broke. The vast majority of pension funds, including State retiree pensions, are funded through commercial real estate to a large percentage. That market is now going unpaid as businesses are closed. Inflation will also outpace any increases they may see, if any.
The feds just poured $5 trillion into the national debt and will need at least another $4 trillion to get to January. There will be no V-shaped recovery because there will be limited recovery as States continue to place undue burdens on commerce.
Amen Brother.
I remember my Grandfather telling of the Great Depression.
I truly never thought in a short 6 weeks this could happen. ..
You know, once the governments start letting go of their “workers” all hell will break loose.
It’s just beginning.