Quote:
Originally Posted by Bearcat
I'm no economic expert, but theoretically I'd think fixing something that was purposely done is inherently easier than being relatively blindsided by an economic bubble bursting.
Aside from the black or white hysteria/"all is fine", what are the facts at this point? How many of the jobs lost from Covid things will come back immediately? Is there hard evidence at this point that the majority of jobs (or a large chunk) won't come back? If we're at 'great recession' levels now and we're talking about opening things up soon, how exactly would this be worse than that period of time (not saying you said it would be worse, but some people are really acting like it)?
Yeah, the country isn't going to all run out and go to the movies and concerts and travel, etc... small business have already closed and others will. Spending will be down. OTOH.... it's been one month with hopes of ending this fairly soon, yet people are acting like those 20 million people have been unemployed for a year with zero hope of employment.
There are so many variables and unknowns, not sure why we have to jump to the worst case scenario.
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There's actually reasons for optimism. Of course this is going to hurt. But as hard as we've been hit I think a lot of the structural stuff is still pretty sound. Structural issues like the financial crisis would be the big concern but that doesn't seem to be the case. Seems less likely we'll see a v shaped recovery. But I don't know that it'll be L shaped either. So... Probably bad but not as bad as we may have thought